Grand Strand – Golf Course Redevelopment

Redevelopment Trends

Six golf courses closed on the Grand Strand in 2005 and another seven have announced plans to close. Recent closures and announcements would bring the number to 14 courses to close in less than three years and more in the works.

The golf course redevelopment underway in Horry County is a direct result of booming real estate sales following the over-saturation of the golf course market. And this trend may keep going as long as the red-hot sales market continues.

Master Deed Protection

In a golf course community, where the houses and the golf course are part of the same planned development, with master deed restrictions, the homeowners have protection to prevent redevelopment. Tidewater Golf Club and Plantation in North Myrtle Beach is one such integrated community. In order to change the master deed, a large majority of homeowners would have to agree to an amendment.

Issues Involved

• Profitability,
• Courses’ design or layout and location
• Owners’ desire to be in the golf course business
• Property deed restrictions
• Existing zoning of the course and its surrounding parcels

Some Examples

Bay Tree - Centex homes, the developer of the Bay Tree redevelopment project, has taken care to include in the planned development district open green spaces, ponds, walking trails, sidewalks and other amenities that will benefit the residents of the redeveloping subdivision. Although it will have numerous features which will make it a nice community, a golf course won’t be one of them.

Burning Ridge in Conway – the homes align both sides of the fairways on the course. Redevelopment would be less of a draw since the open tracts of land are not as large. The layout makes it more difficult to accommodate the area needed for roads, set backs and open space requirements.

Redevelopment Potential

Azalea Sands, Possum Trot and Beachwood golf courses in North Myrtle Beach have key potential for development. The North Myrtle Beach Comprehensive Plan acknowledges this potential, noting that the three courses comprise more than 400 acres of land.

Source: “A closer look at golf course redevelopment” - By Bonnie Pollock
Date 2006/3/30 14:27:08 | Topic: North Myrtle Beach Times