Lynn S,
The clubhouse at Riverside has not been built, and I am doubtful that it will be under the present positioning of the course. With 20+ acres of undeveloped land well above the flloodplain and its own exit off the free way going north and south, I thought that it was a very strategic investment in the early 1990s. It would make a great hotel/resort property, or even a very nice office site.
Riverside, along with Woodhaven and Diamond Oaks CC were sold off over a year ago by Goldman Sachs/Starwood (?) to a Canadian group (might be Western Golf). I understand that the three properties are underperforming, as many second and third tier clubs are in this area.
The Williams deal to buy the 20+ properties Texas portfolio from GS/Starwood (the old AGC portfolio) has fallen through. At around $6 Million per property, I never thought that it would close. A past president of Club Corp whose name presently escapes me is supposed to have this portfolio under contract for about 80% of what Mr. Williams had it before. I still think that the price is way too rich, though one never knows.
Recently, The Tour 18 facility in Flower Mound sold to a Japanese investor for 12.4 Million, a price so far out of line that it is impossible to comprehend. Supposedly, this man has two young sons and he bought it for them to operate (and I wanted Jeff Goldman to adopt me so he would take me on his Monterey Penninsula golf trips!). Tour 18 was running specials during the summer for $49 including carts on weekdays.
The same guy is in the process of purchasing Southern Oaks (just south of Ft. Worth), a very good Mark Brooks designed course with a Scottish flavor. I understand that the price is in the $4 Million range, which is less than half of what it cost to build just a few years ago.
BTW, none of these courses hold a candle to Rustic Canyon.