3 Hurdles To Redeveloping Golf Courses After The PandemicApril 10, 2020 – Media Mention
Real Estate Partner Steve Lurie recently spoke to Law360 about redeveloping golf courses after the pandemic.
"...[H]e’s seen two main types of redevelopment. Keeping the golf course going, perhaps with fewer or smaller holes, while developing some of the land into residential is one approach, while the other is shuttering the course entirely and building from there.
Lurie recently worked on deals to convert some land at Philmont Country Club in Lower Moreland, Pennsylvania, and Fountains Country Club in Lake Worth Valley, Florida, to other uses.
'Sometimes there could be 36 holes and you take nine holes out and build something,' Lurie said. 'Sometimes there are 36 holes and you take it down to one [18-hole] course. I’ve also seen situations where a golf course has excess land. Maybe a big out-of-bounds area. Or maybe you reconfigure a few holes. Turn a par 5 into a par 4. Or move a hole to create a separate lot.'"