As to Pacific Gales, this is from a 2018 article, which would mean 2021 instead of 2020.
Now Esler is taking a new turn in his bid to finance his $30 million project. He is enlisting well-heeled golfers to invest by joining his Founders Club, at $50,000 each, and has rounded up some 350 interested parties so far. After that, to complete the financing package, he is considering crowdfunding, selling tee times for $199 to anybody willing to "donate."
Such a maneuver would be unique in the world of golf course development, though at least a
few groups have used crowdfunding platform GoFundMe to fight construction of a club or try to save those about to go out of business.
"You would be essentially paying forward for your tee time via crowdfunding," says Esler, of St. Charles, who plays to a 1 handicap and has been designing golf courses since he graduated from Ohio State University in 1990 with a degree in landscape architecture. Most of his work has been limited to the
restoration of elite private courses around Chicago, including Chicago Golf, Glen View and Geneva Golf. "I think we can raise $1 million or more in this way."
He won't say exactly how much he has raised so far, but Esler, whose partner is well-known course builder Jim Haley of Highland, Ind., is also considering a private placement of debt as part of the financial package he's amassing. He figures that $6 million will be enough to get started on construction, with his complex including a 10,000-square-foot clubhouse and a 200-bed lodge. His goal is to begin construction late this year and be open in early 2020.
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