November 12th, 2011

country clubs/golf courses and property developers

R. sent me this:

http://www.bizjournals.com/boston/real_estate/2011/11/fallout-on-the-fairways-the.html

It describes several small, aging country clubs/golf courses in the region which are transitioning ownership and in some cases slated for residential development. Locally, Quail Ridge is included.

http://www.wickedlocal.com/boxborough/features/x387122084/Acton-country-club-may-site-of-55-plus-housing

If I understand that article correctly, it used to be owned by someone named Ron Peabody, then was owned by QR Properties (QR looking a lot like standing for Quail Ridge) but then went through BK and was bought by Pulte. Somewhere along the line, the turn the 18-holes into 9 holes and build 55+ housing on the remainder plan was started, which is being carried forward by Pulte.

This fits well with two large themes I am pursuing: (a) the economy is recovering (including housing) but it is a treacherous environment and the pace of the recovery is glacial and (b) infill housing.