Ferry Point GC (Chapter 10 - The Donald Pounces!)

[Geoffrey_Walsh]

A problem-plagued $22.4 million scheme to transform a 222-acre former Bronx landfill into a spectacular PGA-regulation golf course has not only missed its deadline by eight years, it will now cost an additional $100 million, The Post has learned.

And it'll be on the taxpayers' dime.

In 1998, when then-Mayor Giuliani unveiled plans to build the Jack Nicklaus-designed Ferry Point golf course near the Whitestone Bridge in Throgs Neck, the tab was supposed to be picked up by a private developer he chose, and golfers were supposed to tee off by 2001.
But eight years later, little work has been done besides mob-connected truckers dumping mounds of dirt over the old landfill.
Records show the city has already spent $43 million on Ferry Point and is budgeted to borrow at least another $80 million at a time when many other park projects are being gutted citywide because of the fiscal crisis.
"This is a boondoggle," said Geoffrey Croft of the watchdog group New York City Park Advocates. "Instead of building a park the community can use, the city is flushing money down the toilet."
Parks Department spokesman Phil Abramson said the Bloomberg administration has "embraced" the idea of reusing a former landfill for "recreational" use and anticipates Ferry Point being completed by 2013.
He also said the city hopes to recoup some of its investment by hosting PGA or LPGA events there, and by entering a concession agreement with an operator who'd pay the city a fee to run the golf course.
Nearly $15 million of the $43 million already spent was paid to Pierre Gagne, the Giuliani-selected developer who walked out on the project in 2006 because of rising costs, forcing Mayor Bloomberg to salvage Ferry Point by having the city pay for it.
Ironically, $6.2 million of the payments to Gagne were to settle lawsuits ensued after he accepted 2.5 million cubic yards of fill to help cover the one-time landfill. FBI wiretaps captured one mob-connected trucker boasting about collecting $5 for every cubic yard dumped.

Keep in mind, the bulk of the $97MM went to dispose of landfill waste and to clean up the site... It was not for the golf course specifically.  If you go back through the articles (the excerpt above is from 2009) on this thread you will also find there was a ton of money wasted on corrupt partners who were involved in its early stages.  The taxpayers footed the bill.

Trump is coming in at the end and the majority of his budget is just to pay for the clubhouse if I read this right.

[Steve_ Shaffer]

Are we looking at a $300 green fee and many corporate outings here?

[Greg Tallman]

more to the point, how do you manage to spend that much money on building a golf course ? Does the 97 million include for land purchase costs ? Just curious. It does seem like an awfully lot of money.

Niall

I don't know, maybe you pay a guy $100/hour to sit in his truck all day, only moving a couple of times each day to refill the gas of the pump he is "overseeing"... just one of several mind numbing details from someone involved.

Or you dont let the designer speak with the shaper in the field but require detailed plans for every miniscule change that results in a change order processed by the NYC contractor... one can imagine how fast that can add up. 

[Geoffrey_Walsh]

Are we looking at a $300 green fee and many corporate outings here?

Steve,

I can't believe I am saying this but $300 might be on the low end given the concentration of wealth in NYC, the waterfront location, Trump's involvement and the dearth of nearby quality public options.

[Niall C]

Geoffrey

If they had to decontaminate the site anyway then as you say those costs aren't really attributable to the golf course. So how much does the course actually cost ?

Niall

[Bruce Katona]

Frankly, given what is written and through conversation, I can't imagine how this could be financially successful; but..........once all the information is out what appears to be the case may not be.

Donald Trump and his people are smart businessmen.  While they like trophy properties, they like to acquire/lease them for the correct number.  The good news is there is the capital now pledged to compete the project.

[Mike Sweeney]

Pretty interesting civics history lesson here:

http://www.ferrypointpark.org/page26.html

$16 to skate at the Donny run Wollman rink during the holidays. My guess is he WILL get his name in there on the golf course but I don't see a $300 green fee in The Bronx.

http://www.wollmanskatingrink.com/main_wollman.htm

[Howard Riefs]

Are we looking at a $300 green fee and many corporate outings here?

Trump certainly hopes he can load up the tee sheet with corporate outings.  An article in the NY Daily News reports details of the sweet deal, which gives Trump:

-- Control 20% of the weekday tee times for private use without any Parks Department oversight.
-- Could close the facility for private use for a full day if receives approval from city parks officials.
-- Maintains access to the club banquet hall for private events hosting up to 500 people on certain days without any permission. 

As for greens fees:

"More than triple the fee of other city courses — like Van Cortlandt Park in the same borough. Fees for Friday through Sunday rounds at the Trump course would top out at $125, compared with fees of $38-$46 at other city courses."

Oh, and the name of snack bar in a park adjacent to the course? “Donald's Joint!” 

http://www.nydailynews.com/new-york/sweet-golf-deal-donald-free-ride-4-years-public-private-bronx-playpen-article-1.1003115

[Howard Riefs]

NY Times on Trump's sweet deal:  http://www.nytimes.com/2012/01/10/nyregion/plan-for-trump-to-run-bronx-golf-course-has-critics.html

“I’m not sure he got a great deal,” Mr. Bloomberg said. He later added: “These are not terribly profitable things in this day and age. More golf courses are closing than opening across the country."

Gee, since you put it that way...

[jeffwarne]

In two years, when another development emerges, will this thread will be appropriately named?

[Geoffrey_Walsh]

In two years, when another development emerges, will this thread will be appropriately named?

I can almost guarantee that this saga still has some twists and turns left in it...  It still amazes me that one of the major golf publications hasn't written a story on it.  I'll keep updating the subject line as new storylines emerge!

[Geoffrey_Walsh]

Does anyone know if Nicklaus is still designing the course?

[JWL]

Yes, Nicklaus is still the architect.
I will be visiting the site at the end of next week.

[Geoffrey_Walsh]

I think the treehouse will like it if we are allowed to do as envisioned.   Some anyway.

JWL,

Does the current design reflect what your team originally envisioned 7 years ago?

[Howard Riefs]

Very good article by Brad Klein on the history, economics and feasibility of Trump's plans for Ferry Point.

http://golfweek.com/news/2012/feb/03/klein-inside-ferry-point-park-project/


After a lead about how the project is a "story that spans decades and is filled with characters worthy of a novel," Brad finishes the piece perfectly:

"For Croft and other critics, none of the math – the total bill, Trump’s obligations – adds up. But Ferry Point Park’s redevelopment seems destined to proceed. By 2014, Trump says golfers will be beating balls in the shadows of the Whitestone Bridge. At some future date, the irrepressible developer hopes to bring a major championship to the south Bronx.

"It’s a scenario that even Tom Wolfe would have difficulty imagining."

[Mike Sweeney]

Excellent article by Brad with ties into Tom Wolfe and Donnie Trump. The guy is a piece of work (see Trump and Romney, but I do love the Trumper when he says:


“My feasibility study is my gut,” he said.

I do hope he carves out some time for high school teams and the like to play matches at the course.

[Robert Mercer Deruntz]

Taken today at 25mph

[Geoffrey_Walsh]

Bump given the recent articles on other threads.

[Steve_ Shaffer]

Update:


http://www.nytimes.com/2016/08/14/nyregion/golf-course-deal-with-donald-trump-leaves-new-york-city-in-the-rough.html