Luxury Golf Course Facing Foreclosure
Filed under: Sports, Real Estate Developments
Keeping a golf course in the middle of the desert maintained is no easy or inexpensive task and now it looks like one luxury golf course may be fighting foreclosure. The Desert Sun reports that the private Stone Eagle Golf Course in California's Palm Desert may be facing foreclosure. The course is part of the community called The Retreat at Stone Eagle where homes can sell for several million dollars. The course was created by LDD Desert Development Inc.. Bill Powers, president of Pacific Western Bank, confirmed to the Sun that a Notice of Default was filed against Stone Eagle Golf Course. Ted Lennon, the president of LDD has said that he is working with the bank and golf course members to alleviate the situation.
The news article also says some members have been approached with a request to pay $100,000 each to help keep the golf course on track. The cooler months are prime golfing season in the desert and the turf is currently being prepped and announcements of tournaments were recently released. The comments on The Desert Sun article are pretty interesting, no one is exactly shedding a tear for the course's predicament. Some say it should never have been built and should be given back to local wildlife, others say it should be made public so locals get a chance to play.
