Golf course redevelopment is gaining popularity as lush, green and upscale golf course neighborhoods are increasingly being considered as suitable sites for redevelopment to include residential facilities. As land to build continuously becomes scarce, many single-family home real estate developers are considering both current and former golf courses as prime sites for redevelopment. The increased interest to have residential units in golf courses arises out of the need to develop more single-family homes in upscale and scenic communities. Target golf courses are underutilized, abandoned and struggling financially and therefore likely experiencing difficulties maintaining the courses.
When properly designed and executed, golf course redevelopments can benefit all the parties involved that is golf course operators, communities and real estate developers. However, golf course assessment for real estate purposes is complex and needs to be supervised by professionals. For instance, an environmental impact assessment should be conducted by experts with technical expertise to ensure the natural ecosystem is not interfered with and an in-depth environmental due diligence is performed including remediation plans before approvals are granted.
