Grand Haven’s Jack Nicklaus-designed Golf Course May be Sold
Crescent Resources golf facility may be sold to Grand Haven resident.
Palm Coast, FL – August 30, 2009 – The Jack Nicklaus Signature Grand Haven Golf Course and clubhouse in Palm Coast, FL may be sold soon. At least three parties have been rumored to have purchase discussion with course owner Crescent Resources over the past few months. They include a group of present Grand Haven members, MG Orender with Ed Burr, and Grand Haven resident, Bob Million. Million is the apparent winner.
Orender is President of Hampton Golf which operates the course under a management contract. Burr founded but is no longer associated with real estate developer LandMar Group LLC. Million owns the old Lehigh Cement factory property off Colbert Ln at Roberts Rd. on which he has obtained development rights for a mixed-use residential/commercial project including a marina and dry stack boat storage.
Grand Haven was planned and originally developed by Lowe Development. Lowe also owned four other golf courses and the Palm Coast Resort at the time. Nine years ago, LandMar Group, a subsidiary of Crescent Resources came into town and picked up the Grand Haven development from Lowe. Other entities tied to Crescent also picked up three other Lowe courses (Cypress, Pines, and Matanzas) soon therafter. The fourth course (Palm Harbor) and Palm Coast Resort properties were later sold to Centex.
The Grand Haven course served a useful purpose. When LandMar took the Grand Haven club "private," real estate sales boomed. Abetted by the real estate boom, nearly all the 1,900 residential units in the planned community were sold. Now, sales are stalled by the real estate bust and Crescent Resources, LLC (including LandMar) are in Chapter 11 bankruptcy. It’s not surprising that Crescent would be receptive to buyers for its golf facility since it no longer serves its original marketing purpose.
The deal is reportedly not final. Due diligence is underway. A final OK from the bankruptcy judge will likely be an additional requirement.
Update (9/13): Million’s offer reportedly has not been accepted by Crescent. A larger entity is now rumored to be talking with Crescent about the acquisition of all Crescent golf holdings.
Rumor: (noun) a current story or statement without confirmation or certainty as to facts
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Grand Haven may be sold
So, do the rumors also say, whether Grand Haven Golf Course, will remain a golf course, are be used for future home development. Rumors are running rampant right now. Since Million does not appear to be a golfer, the course staying "in tact" seems like something of the past. The people who bought here to be in a private golfing community, are not going to be pleased.
Florida Public Offering Statement and…
Dear Toby: What does your Florida Public Offering Statements say/Homesite Purchase Agreements?
Are there/where are the ‘Common Areas’ in G.H. Golf Course?
Thank you.
George
WOW
Is this rumor WAY OFF Track……
grand haven
my wife work there and was food and beverage manager for about 2 years. ask all the memebers- was well liked and never had a complaint about her in the entire time she worked there. suddenly one day she was fired for stealing $202.50 from the safe which 8 people had the combo.then it was because she filled out a work document wrong. the real reason, she caught the head chef doing drugs and have sexual relations in the pro shop with one of the other managers, and then my wife gets fired???????????????????????? the head manager didn’t want to hear anything! the chef is still there and she ask numeriuos people above the general manager for help. NOTHING!!!!! she wanted to spaek to mr orlander the head man, and no one would forward any message. this is what goes on at that club, no wonder why its going under. the members are great and only care about there club. the people in the pro shop were great as well, but the management there and above in the corp office are all probably corrupt as well. things like this go on in your company and nobody wants to hear anything. that’s what 2 years of working all the time and caring about the club gets you. getting fired because she saw these things go on. did i mention the girl that fooled around with her boss weas my wifes good friend and there is alot more. i hope they shut the place down and fire all involved. beware!!!!!!!!!!!!!!!!
thinking about it now, maybe the newspaper should be called. think i will.
Reply to GH resident
Every rumor I’ve heard (a lot of them) have the course remaing open as a golf course.
Reply to George
The common areas in Grand Haven are owned by the Community Development District (CDD). The golf course and clubhouse have always been owned separately.