ck34
Sep 01 2006, 09:49 AM
Not sure what conclusions we can draw from this but more golf course properties may be available for disc golf and operating golf courses interestd in additional revenue from adding disc golf.
Golf Courses May Soon Be a Starbucks -- or a Subdivision
By Dennis Cauchon, USA TODAY
(Sept. 1) -- Golf courses are being plowed under in record numbers to make way for residential and commercial developments. As Tiger Woods goes for his fifth consecutive win on the PGA Tour this weekend, the golf industry struggles to deal with post-traumatic stress from the "Tiger effect" - a boom in golf during the late 1990s that coincided with Woods' emergence as a superstar.
The golf industry's mantra during the Tiger boom was "a new course every day." That's switched to a couple of closings every week.
Golf course openings fell from a peak of 398.5 in 2000 to 124.5 last year when measured in 18-hole equivalents, the National Golf Foundation reports. During that time, course closings soared from 23 to a record 93.5 last year.
When courses temporarily closed for renovation are included, the USA had fewer golf courses open at the end of 2005 than a year earlier - the first year-to-year decline since 1945. Golfers still have plenty of places to play: 16,052 courses nationwide.
"Golf courses aren't generating the returns people like to see," says Mike Hughes, chief executive of the National Golf Course Owners Association. "The land has appreciated so much in value that it makes abundant economic sense to turn the property over to other uses."
Local governments often support the redevelopment because it brings in more tax revenue than a golf course. The economic downturn of 2001 punctured the Tiger effect, and the industry has not yet recovered.
Some conversions:
-- In Raleigh, N.C., the Cheviot Hills Golf Course, open since 1930, was sold for $25 million and will be turned into auto dealerships.
-- In Fall City, Wash., Tall Chief Golf Course is now 12 holes. The back six holes are being developed into homes.
-- In Myrtle Beach, S.C., the Bay Tree Golf Plantation, which once hosted an LPGA tournament, is being converted into 2,100 condos.
The Myrtle Beach area, the nation's top golf-tourist destination, has seen 17 courses close. (A plentiful 107 remain.)
Hit hardest: golf courses built in rural areas that since have been surrounded by population growth. A golf course is a real estate developer's dream: about 150 acres of undeveloped land.
Shorter golf courses and par-3 courses are being redeveloped especially rapidly, the National Golf Foundation says.
Some homeowners who bought houses on golf courses have been surprised to see their views disappear. "The golf holes go away and suddenly you have people living in your backyard," says Mike Waldron, executive director of the Georgia State Golf Association.
Golf courses are being built where land is cheaper and more rural. Golfers still have many choices but may have to drive farther to play.
"It's like when your favorite grocery store down the street closes," says Jack Nance, executive director of the Carolinas Golf Association. "You're sad, but you deal with it."
Golf Courses May Soon Be a Starbucks -- or a Subdivision
By Dennis Cauchon, USA TODAY
(Sept. 1) -- Golf courses are being plowed under in record numbers to make way for residential and commercial developments. As Tiger Woods goes for his fifth consecutive win on the PGA Tour this weekend, the golf industry struggles to deal with post-traumatic stress from the "Tiger effect" - a boom in golf during the late 1990s that coincided with Woods' emergence as a superstar.
The golf industry's mantra during the Tiger boom was "a new course every day." That's switched to a couple of closings every week.
Golf course openings fell from a peak of 398.5 in 2000 to 124.5 last year when measured in 18-hole equivalents, the National Golf Foundation reports. During that time, course closings soared from 23 to a record 93.5 last year.
When courses temporarily closed for renovation are included, the USA had fewer golf courses open at the end of 2005 than a year earlier - the first year-to-year decline since 1945. Golfers still have plenty of places to play: 16,052 courses nationwide.
"Golf courses aren't generating the returns people like to see," says Mike Hughes, chief executive of the National Golf Course Owners Association. "The land has appreciated so much in value that it makes abundant economic sense to turn the property over to other uses."
Local governments often support the redevelopment because it brings in more tax revenue than a golf course. The economic downturn of 2001 punctured the Tiger effect, and the industry has not yet recovered.
Some conversions:
-- In Raleigh, N.C., the Cheviot Hills Golf Course, open since 1930, was sold for $25 million and will be turned into auto dealerships.
-- In Fall City, Wash., Tall Chief Golf Course is now 12 holes. The back six holes are being developed into homes.
-- In Myrtle Beach, S.C., the Bay Tree Golf Plantation, which once hosted an LPGA tournament, is being converted into 2,100 condos.
The Myrtle Beach area, the nation's top golf-tourist destination, has seen 17 courses close. (A plentiful 107 remain.)
Hit hardest: golf courses built in rural areas that since have been surrounded by population growth. A golf course is a real estate developer's dream: about 150 acres of undeveloped land.
Shorter golf courses and par-3 courses are being redeveloped especially rapidly, the National Golf Foundation says.
Some homeowners who bought houses on golf courses have been surprised to see their views disappear. "The golf holes go away and suddenly you have people living in your backyard," says Mike Waldron, executive director of the Georgia State Golf Association.
Golf courses are being built where land is cheaper and more rural. Golfers still have many choices but may have to drive farther to play.
"It's like when your favorite grocery store down the street closes," says Jack Nance, executive director of the Carolinas Golf Association. "You're sad, but you deal with it."