Clearing Up News-Journal Coverage of Local Golf Course Sales

Did you find today’s N-J article about Palm Coast golf course sales confusing? You should have. Here’s the real story.

Palm Coast, FL – February 19, 2012 – A piece in the Business Section of today’s News-Journal reported on the sale of local golf courses precipitated by changing demographics (fewer golfers) and the decline in golf course values. It’s a fascinating story; one which has been following since 2009. Unfortunately, the N-J got some of its fact wrong, which might confuse readers.

The N-J quotes, "There were lots on The Conservatory course (at Hammock Beach Resorts) that were selling for $200,000 when Ginn Development bought the course to sell condos around it. Now they’re $30,000 and $40,000."
It was the Ocean Hammock Golf Course (now known as the Ocean Course) that Ginn bought (in 2006 for $37,676,000). Ginn developed The Conservatory from scratch. Its golf course is surrounded by 340 single-family building lots (no condos). Lots there originally sold in a speculative feeding frenzy for between $329,900 and $529,900. Most recent sales have been between $12,000 and $20,000. It remains part of the Hammock Beach Club.
The N-J article reports The Grand Club was purchases by The Golf Group of Palm Coast LLC "…to save the courses from foreclosure…." The golf course was sold by Crescent Resources, which recently emerged from Chapter 11 bankruptcy. The Grand Club courses were not in or threatened by foreclosure. They were simply "for sale" (as was the Grand Haven Golf Club) as the reorganized Crescent Resources moved to shed some of its assets.
7 replies
  1. H Wilson
    H Wilson says:

    Correct the Newspaper

    Thanks for correcting the News Journal- I hope you are going to contact them with the corrections. We have enough problems with real estate up here without them saying things that are not so!

  2. Tom
    Tom says:

    News Journal accuracy

    I noticed the same errors you have referred to and corrected.
    Speaking as a former Publisher, I find the News Journal fact checking and proofreading atrocious. The inadequacy of their reporting is exceeded only by their erroneous reporting of facts. Thank you once again for setting the record straight.

  3. John
    John says:


    The most shocking part is that you say there has been a recent sale in Conservatory for $119k, that’s amazing! I figured they were maxing at about $25k. Good article Toby, hope you are well.

  4. Bill
    Bill says:

    News Journal Errors in Golf Course Story

    At this time of year the only STORY in the News Journal is NASCAR and the Daytona 500 Race. All else is either immaterial or erroneously reported.

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