and a lot more.
From Bill Huffman's column in the East valley Tribune:
When it first popped upon the scene in 2003, Southern Dunes Golf Club in Maricopa created quite a stir with its “men’s only’’ concept. Technically, it was an “invitation only’’ club, but when only men are invited, well, you get the point.
Three years later, Southern Dunes is about to become Royal Dunes Golf Club, a new name it will dubbed when Rich Zacher of Phoenix-based Zacher Homes purchases the club and adjacent 70 acres, probably later this month. As Zacher told me recently, “We’re on the one-yard line to close this deal.’’
It has been tumultuous, according to Brian Curley, the course’s co-founder, builder and a member of the club’s three-person board of directors.
“We had our first member vote two weeks ago to pursue a purchase agreement with Zacher Homes, and 85 percent of the membership are in favor,’’ Curley said. “It’s a great deal for the club. Zacher picks up the debt, gives it a new coat of paint and a name, and everybody keeps their membership by just paying (monthly) dues.’’
According to Curley, not everyone is in favor of the sale. “There is a small-but-vocal splinter group out there (presumably, the other 15 percent) that thinks there is a better deal on the horizon. But this is best for everyone, and it’s not even close to the alternative, which is let it fall into bankruptcy.’’
How much is owed creditors? Curley says Zacher will pick up “in excess of $6 million (in debt),’’ while Zacher sees it more like “in the neighborhood of $10 million when everything is said and done.’’
The bottom line is, when the contract gets inked, Zacher will own the club and 70-some acres of surrounding real estate. Believe it or not, he already owns the clubhouse due to an earlier financial shortage.
One thing is certain: “Not everybody is going to be happy,’’ when the deal goes down, Curley said. But it will go down, as Zacher has been hanging tough now for almost two years.
“I’ll be honest -- it’s all about the real estate, because you can’t make money on a golf course,’’ Zacher said bluntly. “I’m just trying to breathe a little life into a dead club.’’
Yeah, that happens when you have 260 members but only about half are paying dues.
The reason? In the beginning, memberships were doled out indiscriminately; with some people paying up to $25,000 while others paid nothing.
There were other tactics, like getting Fred Couples to be the architect of record as well as occasional member. Even John Daly made a celebrated appearance last year, when he was flown in to christen the clubhouse.
Still, there is a lot to like about Southern Dunes from a pure golf standpoint, which is why the membership is loaded with single-digit handicaps. Touring players like Mark Calcavecchia and Steve Jones also play at the Dunes, chiefly because it is one of the few layouts in Arizona that stretch over 7,500 yards.
But financially, Southern Dunes has been a bust. Now, it’s got a second life thanks to Zacher, who plans on keeping the guys happy by honoring their memberships while raising the new membership to $50,000.
“If all the members quit tomorrow, I’d recast it,’’ Zacher said of the possibility of being forced into a family club-type posturing sometime in the future. “But for right now, it is status quo, with families (translated: women and children) getting to play on Sundays.’’
Zacher’s plans are to build 130 custom homesites, as well as 70 to 100 casitas on the golf course. He’s hoping it will become a second-home community with most new members coming from out of state, “Something like they’ve done at Desert Mountain, where I also am a member.’’
There also are plans to build three new holes, a four-hole short course and a new driving range, as well as revamp the bunkers with white sand. Or as Zacher put it: “All I’m going to do is upgrade it. Period.’’
As for the name, Zacher said he chose Royal Dunes because, “It was originally meant to be a Australian-dunes style course like Royal Melbourne, which I understand is Fred Couples’ favorite course in the world.’’
How it all pans out remains to be seen. Certainly, the membership roll could go down before it goes up. At the same time, the members still have the opportunity to keep that “men’s only,’’ or “invitation only,’’ concept in place.
All I can say is, if I’m a member at Southern, er, Royal Dunes, which I’m not, Rich Zacher is on my Christmas list.