Matanzas Golf Course in Palm Coast Sold
The course was closed for renovation in 2007, just as the real estate market was crashing. The renovation was never completed. The purchase sheds hope on an uncertain future.
Palm Coast, FL – October 14, 2014 – The Matanzas Golf Course in Palm Coast, FL has new owners. The Golf Group of Palm Coast LLC, in Palm Coast, sold the closed golf course to The Group Golf of Palm Cost LLC (really, not a typo), of Jacksonville for $266,750. The sale closed October 3rd.
The $266,750 purchase included $100,000 cash and a $166,750 purchase money mortgage from the seller, according to public records. The balloon mortgage payment is due December 10th. The Flagler County Property Appraiser’s website lists the property’s assessed value as $204,615.
The Group Golf of Palm Coast LLC was formed in September by Stephen “Matt” Richardson and Michael Yokan, both of Jacksonville. Yokan referred inquiries to Richardson. Attempts to contact Richardson have been unsuccessful.
Anecdotally, one of the two buyers spoke with at least one Matanzas Woods resident. The resident was told that the new owners were interested in initially re-opening the practice facility and perhaps three holes. They also plan to fix the buildings.
The Matanzas Golf Course was one of three courses purchased from Lowe Development by Crescent Resources, a subsidiary of Duke Energy. The other two were Cypress Knoll and Pine Lakes. Crescent’s subsidiary, Landmar, renamed the three-course club The Grand Club. They planned to rehabilitate each of the three, one per year, before taking the Club private.
The Cypress renovation was completed in 2005. A new clubhouse was added in 2007. The Pine Lakes rehabilitation was finished in 2006. The renovated Pine Lakes clubhouse opened in 2007, the same year Matanzas was closed to begin an extensive renovation. A new clubhouse was also planned. Then the real estate market crashed. The renovation was never begun and Crescent went bankrupt.
Recently, new operators Doreen Holl and Chris McLaren, took over operations of the Pines Course, with an option to buy. The Golf Group of Palm Coast continues to operate only the Cypress Course at this time.
The three courses were purchased from The Grand Club in 2011 by The Golf Group of Palm Coast. At the time, The Golf Group of Palm Coast voiced plans to reopen Matanzas, but the current economics of the golf industry precluded that vision. Matanzas has been on the market since. It had reportedly been under contract several times, once by local real estate developer Jim Cullis, but none of the preceding contracts completed.
Many feel that Matanzas was the very best of Palm Coast’s original four courses. Designed by Arnold Palmer and Ed Seay, Matanzas Woods has been described as a "beautiful monster" and was once named one of Golf Digest's "Best New Resort Courses". This course featured a fair amount of water on the course with the Jefferson Davis Waterway cutting through the course, running parallel to some fairways on the back nine.
Lake Success was located between holes 14 and 15. The fairways on the course varied in width with some providing ample landing areas while others were narrow. The fairways generally had grass mounds along the sides, or the waterway, with some being tree lined. The greens were average-sized and were sloped and undulating. Most greens were well protected by deep sand bunkers. Fairway bunkers were also common.
Holes 8 and 10 shared a double green. Many holes on this course presented interesting designs and/or challenges. Two examples on the front nine were #3, a par 3, with a tee shot over water to the green and #4, a long par 5, with water along the left side and an approach shot over water to the green.
An interesting hole on the back was #13, a par 3, with part of the green, on the left, protruding out into the waterway. The two par 5’s on the back, #14 and #18 were also particularly nice holes. #14 had a very narrow landing area off the tee with a second shot over water. #18 was the signature hole and featured a demanding approach shot to a small “island” green.
CHEAPER THAN THE PURCHASE OF A HOME
DID I READ THAT RIGHT??? 266K FOR THE WHOLE COURSE? WITH THE TERMS OF THE SALE, I FEEL PRETTY CERTAIN, REVIVAL OF THIS WONDERFUL COURSE IS DOOMED FOREVER. TOO BAD.
Good news. Contrary to what one might assume based on the price, it may be that there is finally light at the end of the tunnel for a golf renaissance in the L section and a property value resurgence. The course needs a lot of work. It needs to be looked at as a long term project for investors who have patience and a dedication to golf and to this community. Thanks for reporting this.
Recreational Areas encumbered by F.T.C. C-2854
@ G. Orr: You may want to read the massive ‘Consent Agreement’ for ‘ Palm Coast ‘. It is the Federal Trade Commissions’ Docket C-2854 and also Orders the ‘ 15 Year Compliance Report ‘ which contains Exhibits A and Exhibits B.
Does anyone know what Historical Significance ‘ Lake Success ‘ and ‘ Jefferson Davis Waterway’ may have? Thank you very much.
I bought my home in Mantanzas Woods just for the Golf course in 2008, after meeting with Mayor Netts , Jim Landon city manager & others, the zoning was changed in 2006 to residential yet homes were being sold for years as a Golf Course Community, with a Huge Bill Board saying Mantanzas Woods, a Golf Course community, the city just wants Tax dollars, I personally met with the owners,they offered the property to us for $250,000, Builders close to Landon are ready to build yet do nothing to bring back neighborhood values,Cypress knolls was to be done last however it was done 2nd leaving the owners unable to do Mantanzas, Hmmm, Landon protected his community yet doesn’t care about others, Home values went down with the economy yet took a huge hit when the course didn’t re-open, I call it Politics & Money
In Response To Robert McKenna & Other Homeowners
Unlike Mr. McKenna, we built here in 2003/2004 with actual golf course frontage. One of the fairways is in our backyard not 2 or 3 streets over behind someone else’s house. We bought at a good time, and didn’t purchase a distressed property. We know first hand the actual impact of the closure of the course. We do not claim that someone “sold us” on anything.
I am happy to hear that someone purchased the course and wants to make an effort, but I am not confident that anything will come of it. By the sounds of the details of the purchase this is a group that does not have a lot of capital.
Fixing” a building and opening a driving range (and possibly 3 holes?) is not going to restore property values in Matanzas Woods especially those of us who have homes with the actual frontage that is impacted the most.
I understand that people like to concoct political conspiracy theories, but because of those games they play the real issues in Matanzas Woods are being overlooked. The bottom line issue for owners is property value which was clearly obvious in every meeting and every discussion. A course with only a fraction of it opened and the remainder not being well maintained to at least be used as a community park for the time being (i.e. cart paths as walking trails) will not improve values. People have allowed themselves to be sold on an idea that is not true with one or two golf advocates that are not looking at the bigger picture, the actual golf industry, and do not understand basic economics. All of which is holding an entire community back unfortunately in a recovering real estate market.
Time will tell, but I am not very confident this development will not just keep the community right where it is much longer than it has to be.
Great opportunity for the new owners.
This is a great opportunity for the new golf course owners, the community and our property values. Let’s leave it at that and smile for once around here. Hey, maybe they’ll cut the freaking grass? Maybe not?
Matanzas Woods Golf Course encumberances
@ Mr. Orr:
Perhaps this additional information may better help you fathom the Federally Ordered ‘ Recreational Area ‘ a.k.a. Matanzas Woods Golf Course and how it is encumbered by Federal Trade Commissions ‘ Consent Agreement’ – Docket C-2854.
If interested you can be sent the I.L.S. Documents listed below from H.U.D. I hope this Heritage and Historical Information, Origins, etc. is helpful to you.
Sent: Thursday, April 02, 2009 4:48 PM
Subject: FW: Palm Coast, Flagler County, Florida
Dear Mr. Chuddy,
‘…Certain Lots in Palm Coast Sections 1-4, 6-35, 39, 57-60, 63-65 (OILSR# C-1092-09) located in Flagler County, FL and the developer listed as ITT Community Development Corporation…’ and
‘…There have been no other types of submissions for this subdivision to the Interstate Land Sales Office since then…’ and
‘…However, there is another subdivision listed with the Interstate Land Sales Office under Certain Lots of Palm Coast (ILS# 30564) with the developer listed as National Recreational Properties of Palm Coast, Inc…’ and
‘…I have attached some property reports for these two filings. I hope this information is helpful.
Office of Interstate Land Sales
Brad West, if you have something to say about me , say it to my face you Bastard with no Balls, it won’t be like last year, you and your X con wife can do and say whatever you like, don’t mention my name publicly again, lets go face to face if you have the Balls, try me, 1 more time, I know where you live, you know where I live, your more than welcome anytime to stop by, your nothing but a Punk that needs to be put in his place, I’m just the guy to do it, your best chance is to not mention me again and I’ll let it go, if not, I guess we will be meeting very soon SCUMBAG, & I guess if you like to mention names, I like to post PHOTOS, GOT IT////// I took the time to meet with the Mayor & City manager, what did you do for our community, except publish bullshit with no facts behind it, hiding behind other people, pick on people like Ray Douglas who did nothing but try to help our community. I have had it with people like you, what now, you going to band me from the site like last year. I would hope I never hear from you again, I will do 1 thing, I will not post anything unless my name is mentioned, if you do mention my name, then be prepared to deal with my Attorney, or Me, which ever you prefer.
Jefferson Davis Waterway
Could someone post a link that explains the historical significance of Lake Success and Jefferson Davis Waterway
Official State of Florida Historic Heritage MARKER
RE: Lake Success – I don’t know if this is the association – maybe –
The Levitt and Sons office building in Lake Success, New York designed by Edward Durell Stone
Long Island Modernism 1930–1980, by Caroline Rob Zaleski, has arrived to prove that notion impressively wrong. The 25 architects under discussion are not names you would readily associate with Long Island—Frank Lloyd Wright, Richard Neutra, Ludwig Mies van der Rohe. Some of the names, like William Lescaze, Wallace Harrison, and
Edward Durell Stone
are only slightly less prominent. And some, like Jane Yu and A. Lawrence Kocher, deserve more attention.
The book is a result of a field study of modern buildings being conducted for the Society for the Preservation of Long Island Antiquities. Zaleski, an architectural preservationist and historian, is the director of that survey and an important advocate for Long Island’s modernist heritage.
RE: Regretably, I don’t know what is the historic and heritage association for ‘ Jefferson Davis Waterway ‘. I myself, keep looking also.
You may want to contact Terri Pruden, Flagler County Museum and the Flagler County Historical Society and the City of Palm Coast Historical Society. Perhaps they will know. Additionally, the State of Florida Historic Preservation Offices regulary help me/ us out.
May I ask if you are going to pursue , hopefully successful, an application for a Heritage Historic MARKER for the Matanzas Woods Golf Course ? I know first hand that the Matanzas Woods Golf Course was in the design for ‘ The Palm Coast Project ‘ . I saw the HUGE Map they ( Levitt & I.T.T. ) had to sell land to prospective buyers.
For the newer Palm Coasters – Prospective buyers for ‘ The Palm Coast Project ‘ – largest planned community in the Nation..’ and ‘..largest NEW Town in the World…’ had many choices. IF the prospective buyer needed a lot / home now…they were available OR if they needed lot / house sometime in the future that was available as ‘ Build Out ‘ occurred and there was 10 year financing available for prospective buyers. The MAP showed the years of ‘Completion’ for all the many ‘ Communities ‘ communities comprising Palm Coast. The MAP also showed the Amenities offered so that prospective buyers could CHOOSE where or next to or close to the many Amenities offered – whether they be the Four Sisters Golf Courses / Palm Coast SunSport Beach Club / Palm Harbor Swim Club / Palm Harbor Tennis Club / Waterfalls / Community Parks / proposed School Sites / etc.
I regret this is all the information I / we have.
Jefferson DAvis Waterway
@ szglassy – RE: Jefferson Davis Waterway & Matanzas Wood Golf Course area – Maybe it is part of the United States Inland Waterway System. A suggestion of you pursue Grant funding, MARKER, etc., maybe start with finding out WHICH of the Great Plantations you are a part of.
Here is a possible contact:
Sent: Thursday, October 16, 2014 4:51 PM
Subject: St. Joseph’s Plantation, historical marker potential
Good afternoon Mr. Chuddy,
Thank you for your email inquiry regarding the Palm Harbor Shopping Center and the concern over the potential Territorial Period heritage from the St. Joseph’s Plantation. Per our Compliance and Review files, a survey for the initial area development was completed in 1977; although, it appears that little actual field testing was performed.
From the information provided, a ‘J Fish heirs’ is listed as the Spanish Land Grant recipient for the area. St. Joseph’s Plantation and sugar mill, along with William’s Plantation and sugar mill, were identified as potential resources within the project area. Joseph M. Hernandez, founder of St. Joseph’s Plantation, lost his holdings during the Second Seminole War and successfully received compensation from the State of Florida to rebuild after 1845. After that point, at least after the property sold in 1896, the land mostly serviced agricultural production (citrus) and turpentine.
Again, no actual excavations were undertaken, as per the report, Phase II work was being planned. Our office has no other reports indicating if Phase II work had been executed.
In comparing historic aerials (1943) to recent development, the area has drastically changed. Former lowland swamp areas have been drained with canal networks, and modern development has completely changed the topography. It is safe to assume that little still exists from the Territorial Period of occupation, as modern development would have destroyed the soil stratigraphy and most likely, any archaeological remains.
Unless this proposed site redevelopment will require federal or state funding/permitting, our office has no jurisdiction to comment on the proposed design or treatment of the site. Unfortunately, many important historical sites throughout Florida are lost due to private development.
If local support exists, let me suggest a way to recognize the history of this area that may be agreeable to the municipality, developer, and interested citizens. Given the importance of General Joseph Hernandez, as he owned several adjacent plantations and held considerable political influence, ———–>a Florida Historical Marker would be an appropriate way to commemorate this site<---------. Please visit our website, or contact Mr. Michael Hart (, Historical Marker Coordinator), for more information regarding the process and fabrication costs. We do offer State grants to abate the cost of marker fabrication, and you may wish to explore this option. ************ Since the State of Florida Historic Preservation Offices have suggested a MARKER for St. Josephs' Sugar Mill / Slave Quarters / Outbuildings, etc. we have just started to see if the City Of Palm Coast would acquire this high honor for us. I just contacted the N.A.A.C.P. and asked if they can help us aquire this. Hopefully, in time, if we get enough Heritage and Historic Markers maybe, just maybe, we can bring back the Palm Coast Trolleys and offer a Historic Bus Tour. I hope this information is helpful to you. OH - I am Steward of THREE Maps that maybe useful to you; additionally several years ago the State of Florida Promised me they would preserve the Poster Sized MAPS of Palm Coast Project. I haven't seen them but if you need them they are in the Official MAP Room of the State of Florida. Best regards, Desiree Estabrook, M.H.P.
Matanzas Golf Course
I have heard that the golf course is once again in forclosure since it was purchased by “The Group Golf of Palm Coast LLC”. Can anyone shed some light as to what is going on?