Golf Inc. - October 2008 - (Page 43)

Development Recap MEXICO Construction launched on Gary Player design Construction is underway on a new Gary Player-designed golf course as part of phase two of development at the CostaBaja Resort & Marina in Baja California Sur. The course is the globe-trotting architect’s first project in Mexico and is expected to open some time in 2009. The 18-hole design will feature panoramic views of the Sea of Cortez. Phase two of the master-planned resort’s development has progressed rapidly after Grupo Concord, developer of CostaBaja Resort & Marina, partnered with PREI, the real estate investment management business of Prudential Financial Inc., to secure an $800 million capital investment in the project. COSTA RICA designed golf course as part of its initial phase of development. Troon Golf has been hired to manage the yet-to-be-named course, which will be spread across more than 500 acres of land and is expected to open for play in 2009. New Jersey-based developer Global Financial Group broke ground on the 557-acre project overlooking Brasilito Bay in June of this year. Designed by architect Michael Graves, the project’s first phase also features a 185-room Hyatt Regency Resort and 64 full-ownership condos. It is scheduled for completion in early 2010. An additional 1,000 residential units including condominiums, townhouses, mid-rise apartments and custom homes will be constructed in the project’s second phase. UNITED STATES & Lutzke and set on 150 acres, the 7,300yard course was part of a $43 million expansion of the nearby Island Resort & Casino. Both the hotel and casino were upgraded and expanded in April of 2007. The course, which also features a 5,000-square-foot clubhouse, was developed by Three Fire Society, a joint venture of the Ojibway, Ottawa and Potawatomi tribes. URUGUAY $100 million project to begin in March Brazilian holding company JHSF will begin construction in March on a $100-million hotel complex in the Cerro Eguzquiza region of the department of Maldonao. Named La Cumbre, Villas & Hotel Fasano, the project will feature 20 bungalows and 205 villas in addition to a golf course, spa and other sporting facilities. JHSF is developing the complex on approximately 1,200 acres of land that it purchased one year ago for $12.5 million. Greg Norman course part of $300 million project Azulera Resort Village, a new $300 million residential resort in northwest Costa Rica’s Guanacaste Province, will feature an 18-hole, Greg Norman- Sweetwater Golf Course opens in Michigan Sweetwater Golf Course, an 18-hole, championship course in Harris, Mich., opened for play in July. Designed by Paul Albanese of Albanese Colorado Brightwater Golf Club, a new Robert Trent Jones Jr.-designed course, is the newest addition to the golf scene in Colorado’s Vail Valley. The 8,005-yard layout, part of a private, gated residential community, is billed as the fifth longest in the U.S., though it does offer a set of family tees at 2,700 yards. The course routing winds around an original 19th century homestead barn, eight lakes, six natural springs, three streams and a one-mile stretch of Gypsum Creek. October 2008 www.GolfIncMagazine.com 43 http://www.GolfIncMagazine.com

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Golf Inc. - October 2008 Contents From the Editors: Smaller is Less Costly Survey Reveal Golf's Economic Impact in EMA Private Club Managers Earn Bigger Salaries Dyes Mourn Loss of Family Member Changing Demographics Impact European Golf Scene RDC Golf Group Finds Affordable Golf Niche Links at Summerly Offers Unique Twist Cost Crunch Most Powerful People in Golf Contractors Focus on Renovations, International�Projects Troon, IMG Reach Into Booming Middle East Market Americas Recap: New Player Design in Mexico Europe-Africa Recap: Moroccan Lakeside Development Asia-Australia Recap: 3 Billion Dollar Resort in Vietnam The Last Word: There's No Substitute for Good Friends on a Golf Course

Golf Inc. - October 2008

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