Greg,
Just wondering..is this happening at other courses in the Cabo vicinity? Or was this just a poor business plan/location type situation. I know very little about the background so if I sound completely clueless, I basically am.
Didn't Mickelson design a course down there that is gone as well?
Dale, There have been two courses that were completed open for play and then let go. Both are in the La Paz region which is well north of Cabo.
The business plan for Bay of Dreams was aggressive during good times and was, in large part, built around their on site air strip that was going to be extended to handle the largest private aircraft. After Spetmeber 2008 it was a tough sell to indivduals or as a project.
The other course to go under is Paraiso del Mar which is located on the peninsula in the bay of LaPaz. Hills course, not bad not great. Accessible by boat/ferry only (just a 5-10 minute ride). PLenty of real estate sold but they just could not make it after the downturn. HOA is trying to kee the course from being like Bay of Dreams but without a new owner it's a matter of time I'm afraid.
Mickelson was originally supposed to do the second course at Diamante which is now the third course and not going to be Mickelson from what I understand.
A Fazio course at Chileno Bay was all but completed in 2009 but still yet to open for play though they have somehow kept it alive for the most part. It would still require several million to finish it off as originally designed. If completed it would be a clear cut #3 in Cabo behind Diamante and Cabo del Sol Ocean.