July 2020 - Parks & Recreation - 20

FINANCE FOR THE FIELD
Implications of the Rise and Decline of Golf
By John L. Crompton, Ph.D.

I

n 1950, there were approximately 4,900 18-hole equivalent golf courses (18-HEQ) in the United States. Most had been commissioned by
exclusive private clubs to serve the upper class, and only 3 percent
had any residential real estate around them. In the post-World War II
economic boom, the number of players increased from 3.5 million in 1950
to 11.2 million in 1970. During this period, the game was embraced by the
new middle class who had the time, money and desire to engage in more
recreational activities.
The catalyst for the symbiotic relationship between golf and
real estate that sparked the boom
in courses in the latter decades of
the 20th century was the highly
publicized Sea Pines Plantation
development on South Carolina's
Hilton Head Island. Charles Fraser (who was a chair of the NRPA
Board of Trustees from 1974 to
1975) undertook this development

Why Has Golf Declined?

IMAGE COURTESY OF JOHN L. CROMPTON, PH.D.

18

Parks & Recreation

around 1960. Fraser demonstrated that golf courses could be designed so they created extensive
amounts of green space and water
around which building lots could
be wrapped; and they could be
threaded through less attractive
land to enhance its value.
Fraser pioneered the concept of
a residential golf community. This
new focus on using golf to raise

lot prices led to a change in the
configuration of courses. Figure
1 shows that early " core " courses
were compact, typically around
100 acres, with approximately
10,000 feet of edge. In contrast,
residential golf developments typically constructed the " single fairway " configuration or adaptations
of it. The residential configuration
maximized the amount of edge
by creating building lots on both
sides of fairways, so there is typically about 47,000 feet of edge.
In 1970, there were 7,516 18HEQ courses. At their peak in
2005, the number had almost doubled to 14,990, and a large majority
of the new courses were the focus
of residential golf communities.
In 1987, the McKinsey & Company consulting firm published
Strategic Plan for the Growth of the
Game, which projected substantial
increases in the number of golfers
and called for " A Course a Day "
to be built to accommodate it. The
plan received extensive publicity in
the media, was embraced by many
in the development community
and reinforced the momentum to
build new courses.

While McKinsey continued to
be optimistic in its updated 1999
report, that optimism ultimately proved to be unfounded. Since
2003, there has been a consistent
annual decline in the number of
Figure 1: Early " core " courses were compact, while residential golf developments
typically constructed the " single fairway "
to maximize the amount of edge.

| J U LY 2 0 2 0 | P A R K S A N D R E C R E AT I O N . O R G



July 2020 - Parks & Recreation

Table of Contents for the Digital Edition of July 2020 - Parks & Recreation

July 2020 - Parks & Recreation - 1
July 2020 - Parks & Recreation - 2
July 2020 - Parks & Recreation - 3
July 2020 - Parks & Recreation - 4
July 2020 - Parks & Recreation - 5
July 2020 - Parks & Recreation - 6
July 2020 - Parks & Recreation - 7
July 2020 - Parks & Recreation - 8
July 2020 - Parks & Recreation - 9
July 2020 - Parks & Recreation - 10
July 2020 - Parks & Recreation - 11
July 2020 - Parks & Recreation - 12
July 2020 - Parks & Recreation - 13
July 2020 - Parks & Recreation - 14
July 2020 - Parks & Recreation - 15
July 2020 - Parks & Recreation - 16
July 2020 - Parks & Recreation - 17
July 2020 - Parks & Recreation - 18
July 2020 - Parks & Recreation - 19
July 2020 - Parks & Recreation - 20
July 2020 - Parks & Recreation - 21
July 2020 - Parks & Recreation - 22
July 2020 - Parks & Recreation - 23
July 2020 - Parks & Recreation - 24
July 2020 - Parks & Recreation - 25
July 2020 - Parks & Recreation - 26
July 2020 - Parks & Recreation - 27
July 2020 - Parks & Recreation - 28
July 2020 - Parks & Recreation - 29
July 2020 - Parks & Recreation - 30
July 2020 - Parks & Recreation - 31
July 2020 - Parks & Recreation - 32
July 2020 - Parks & Recreation - 33
July 2020 - Parks & Recreation - 34
July 2020 - Parks & Recreation - 35
July 2020 - Parks & Recreation - 36
July 2020 - Parks & Recreation - 37
July 2020 - Parks & Recreation - 38
July 2020 - Parks & Recreation - 39
July 2020 - Parks & Recreation - 40
July 2020 - Parks & Recreation - 41
July 2020 - Parks & Recreation - 42
July 2020 - Parks & Recreation - 43
July 2020 - Parks & Recreation - 44
July 2020 - Parks & Recreation - 45
July 2020 - Parks & Recreation - 46
July 2020 - Parks & Recreation - 47
July 2020 - Parks & Recreation - 48
July 2020 - Parks & Recreation - 49
July 2020 - Parks & Recreation - 50
July 2020 - Parks & Recreation - 51
July 2020 - Parks & Recreation - 52
July 2020 - Parks & Recreation - 53
July 2020 - Parks & Recreation - 54
July 2020 - Parks & Recreation - 55
July 2020 - Parks & Recreation - 56
July 2020 - Parks & Recreation - 57
July 2020 - Parks & Recreation - 58
July 2020 - Parks & Recreation - 59
July 2020 - Parks & Recreation - 60
July 2020 - Parks & Recreation - 61
July 2020 - Parks & Recreation - 62
July 2020 - Parks & Recreation - 63
July 2020 - Parks & Recreation - 64
July 2020 - Parks & Recreation - 65
July 2020 - Parks & Recreation - 66
July 2020 - Parks & Recreation - 67
July 2020 - Parks & Recreation - 68
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/february-2021
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/january-2021
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/december-2020
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/november-2020
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/october-2020
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/september-2020
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/august-2020
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/july-2020
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/june-2020
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/may-2020
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/april-2020
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/march-2020
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/february-2020
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/january-2020
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/december-2019
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/november-2019
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/october-2019
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/september-2019
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/august-2019
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/july-2019
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/june-2019
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/may-2019
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/april-2019
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/march-2019
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/february-2019
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/january-2019
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/december-2018
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/november-2018
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/october-2018
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/september-2018
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/august-2018
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/july-2018
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/june-2018
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/may-2018
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/april-2018
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/march-2018
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/february-2018
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/january-2018
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/december-2017
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/november-2017
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/october-2017
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/september-2017
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/august-2017
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/july-2017
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/june-2017
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/may-2017
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/april-2017
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/march-2017
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/february-2017
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/january-2017
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/december-2016
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/november-2016
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/october-2016
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/august-2016
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/july-2016
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/june-2016
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/may-2016
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/april-2016
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/march-2016
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/february-2016
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/january-2016
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/december-2015
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/november-2015
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/october-2015
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/september-2015
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/august-2015
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/july-2015
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/june-2015
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/may-2015
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/april-2015
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/march-2015
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/february-2015
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/january-2015
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/december-2014
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/november-2014
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/october-2014
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/september-2014
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/august-2014
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/july-2014
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/june-2014
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/may-2014
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/april-2014
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/march-2014
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/february-2014
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/january-2014
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/december-2013
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/november-2013
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/october-2013
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/september-2013
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/august-2013
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/july-2013
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/june-2013
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/may-2013
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/april-2013
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/march-2013
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/february-2013
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/january-2013
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/december-2012
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/november-2012
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/october-2012
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/september-2012
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/august-2012
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/july-2012
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/june-2012
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/may-2012
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/april-2012
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/march-2012
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/february-2012
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/january-2012
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/december-2011
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/november-2011
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/october-2011
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/september-2011
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/august-2011
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/july-2011
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/june-2011
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/may-2011
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/april-2011
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/march-2011
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/february-2011
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/january-2011
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/december-2010
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/november-2010
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/october-2010
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/september-2010
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/august-2010
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/july-2010
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/june-2010
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/may-2010
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/april-2010
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/march-2010
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/february-2010
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/january-2010
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/december-2009
https://www.nxtbook.com/nrpa/ParksRecreationMagazine/november-2009
https://www.nxtbookmedia.com