I enjoy reading the Golf Digest blog on Golf and Real Estate. I thought I'd pass along this link to an interview with the developers of Clear Creek in Tahoe because I think it struck me as very refreshing in the context of all the over done, over debt burdoned projects that seem to go bankrupt on a daily basis.
http://www.golfdigest.com/magazine/2009/08/20090827finch?currentPage=1Things I enjoyed about the interview...
- Leaving more grounds native helps save operating expense
- Shifting the business plan hasn't compromised the quality of the course, or apparently the membership
- Not requiring a real estate purchase leads to what appears to be a more "golf-focused" membership
- Clubhouse and other ammenties are waiting until the market demand warrants it
- Building a clubhouse that will be comfortable during normal load, not peak load (when they'll bring in tents)
The story seemed familiar, as my understanding of the business plan for Bandon was pay cash as often as possible and keep golf front and center in every decision. If you do that, you'll end up with a product that you and others enjoy for all the right reasons.
As an aspiring developer, I'm taking these as very timeless lessons.