Golf course sales

[bcampb00]

i mentioned in another post the rumour that The National had received a bid for their golf course. I heard another rumour that Maple downs had received a bid for theirs. Rumours continue about Beacon Hall. My personal view is that it would be a shame to lose any of these golfing gems to developers but what can be done? Progress stops for nobody as they say. Added into the following sold (or slated for development) courses and the supply of excellent GTA golfing facilities is Taking a whack - a bit depressing if you think about it. Perhaps the best that golfers could hope (?) for is an economic recession?

York Downs
Aurora Highlands
Angus Glen
The Country Club
Copper Creek
IBM
GlennAbby

Feel free to add to this despairing list, I already feel like I have forgotten a few.

[Pete12345]

i mentioned in another post the rumour that The National had received a bid for their golf course. I heard another rumour that Maple downs had received a bid for theirs. Rumours continue about Beacon Hall. My personal view is that it would be a shame to lose any of these golfing gems to developers but what can be done? Progress stops for nobody as they say. Added into the following sold (or slated for development) courses and the supply of excellent GTA golfing facilities is Taking a whack - a bit depressing if you think about it. Perhaps the best that golfers could hope (?) for is an economic recession?

York Downs
Aurora Highlands
Angus Glen
The Country Club
Copper Creek
IBM

Feel free to add to this despairing list, I already feel like I have forgotten a few.

I don't see golf courses closing as a bad thing. The reality is the golf industry is severely overbuilt and it needs to shrink. More courses closing will help those private clubs and public courses that remain stronger. There are too many clubs needing more members and public courses with tee sheets that are way under capacity. I truly believe we will see more courses close than people expect over the next 10 years and this will be a great thing for the golf industry. I would much rather see fewer courses and clubs but have the rest that remain do much better financially.

[bcampb00]

I don't see golf courses closing as a bad thing. The reality is the golf industry is severely overbuilt and it needs to shrink. More courses closing will help those private clubs and public courses that remain stronger. There are too many clubs needing more members and public courses with tee sheets that are way under capacity. I truly believe we will see more courses close than people expect over the next 10 years and this will be a great thing for the golf industry. I would much rather see fewer courses and clubs but have the rest that remain do much better financially.

Perhaps, but I think a lot of the courses rumoured to close are in pretty solid financial shape. I agree on two points: 1. GTA land cannot be economically allocated to golfing lands unless the itbis otherwise undevelopable. 2. There are more golf courses than required to meet current demand.

However, if contraction of courses may be good for “golf”, I don’t think it is going to be so good for golfers. Green fees, guest fees, and annual dues will all likely move up. One final point, there are some very fine golfing facilities on those lists.

[rulie]

What is the status of Glen Abbey?

[Pete12345]

Perhaps, but I think a lot of the courses rumoured to close are in pretty solid financial shape. I agree on two points: 1. GTA land cannot be economically allocated to golfing lands unless the itbis otherwise undevelopable. 2. There are more golf courses than required to meet current demand.

However, if contraction of courses may be good for “golf”, I don’t think it is going to be so good for golfers. Green fees, guest fees, and annual dues will all likely move up. One final point, there are some very fine golfing facilities on those lists.

Green fees will likely increase however annual dues will go down. At a private club the annual dues are determined by operating expenses and they divide that number by the number of members. Rosedale is a prime example, the annual dues are quite reasonable as they have a full membership. But I do believe that initiation will increase.

[bcampb00]

What is the status of Glen Abbey?

I am not sure the status, I suspect it is in an administrative quagmire but will eventually emerge and get developed.

[Arthur Dailey]

I don't see golf courses closing as a bad thing.

Heretic!
We all believe that we should have a decent course available within a 30 minute drive of our home, that offers $50 walking green fees and 4.5 hour maximum rounds.

Wasnt' Mandarin/Upper Unionville sold to a developer and being run/managed under contract?

Remington development owns Parkview and has plans to reduce it to by at least 18 holes.

Brookside, long gone. Unionville Family Golf.

By the way there is a Lost Courses thread.

[Big Shooter]

my first of only 2 career sub 80 rounds, was at the now distant memory Glenway in Newmarket

[caddishack]

I think that not only Copper Creek will be developed, but 2 of the other courses they own....not in the near future but eventually...Upper Unionville and Watsons Glen. I only say this as the company that owns them is in the business of putting in not only the housing but every step along the way from excavation, roads and utilities. A perfect vertically integrated company

[TeetoGrnr]

Unfortunately a lot of developers own and use golf courses as a temporary measure with a eye towards future development (there are tax advantages to putting a golf course there vs vacant land in the mean time)....as the land value increases and as ppl and businesses come in and developer sees big $, he will move that land towards the development side. Streetsville Glen Golf Club in Brampton is a good example (owned by Kaneff)....it was there way before the 407 was built and now there are a ton of businesses and housing developments. IIRC it was 27 holes at one time and now it's 18 holes.

[SLDR TP]

Beacon members voted in favor to obtain offers, special committee is formed to handle the process, vote was 138 in fav, 109 opposed 13 non votes, that tells me in order to get the required 2/3 vote the developers are going to have to pay up