Someone is buying golf courses. I received this email from Talamore, where I am a social member with limited golf access:
APPLECROSS - A NEW MEMBER TO THE TALAMORE FAMILY OF CLUBS
We are excited to announce that the Talamore organization has entered into an agreement with Pulte Homes (NYSE: PHM) one of the nation's largest home builders to own and operate Applecross Country Club located just 40 minutes west of us in West Chester, PA. Talamore's relationship with Pulte will be similar to the one with Realen Homes the original developer at Talamore Country Club in Ambler. Talamore will own and operate the Applecross golf course & club facilities and Pulte will develop the community and homes. While we have separate daily responsibilities, there is no question our individual success will ultimately come from mutual efforts to make Applecross the best it can be.
Similar to Talamore, Applecross is a residential golf community with its centerpiece being the area's only Nicklaus design championship golf course / practice facilities (opening Sumer 2010) and a series of club amenities (opening Spring 2009) that are unparalleled in the region. By year end 2009 there will be more than 125 homes in the Applecross community with plans calling for the ultimate development of approximately 900 homes (Talamore has 390). There are currently 4 different house lines being offered with prices ranging from $300,000 - $1M. Two additional house lines will be introduced over the next 24 - 36 months. By far, Applecross represents the primary and most significant investment for Pulte Homes in the region and is very high on their daily radar screen in terms of achieving a high level of performance and satisfaction.