I was fortunate enough to meet up with Sean and Rachel when they were up here and we went out to see the Black Sands site.
It is a half-hour drive from Reykjavik, and while the direct route from Keflavik international airport can not be travelled over a decent road, the trip from there will take an hour.
The site is near a village called Thorlakshofn, adjacent to an existing 18 hole course. The black sand is the main feature, of course. Within the reach of an 18 hole layout there is quite a lot of lava also, and a lot of the black sand has been blown over it, so while the soil profile may seem entirely sandy at a first glance, one will see that water gets trapped in places, forming ponds. This should give an interesting variety, should the designers choose to meander round the area in such a way.
This area is prone to extremely high winds in winter, so sand stabilization is a key word, or at least I'd think so.
The length of playing season up here is around 5 months. 6 months on a good course in a good year. You can play for longer, but that will be on temporary greens. Keep in mind when viewing climate statistics that the amount of sunlight up here in the winter is significantly less than further south, only four hours or so in late December. However, this will be 24 hours in late June.