Buyers not teeing up to develop closed golf courses
Wednesday, August 27, 2008
DEERFIELD TWP. — Two local golf courses are for sale, but in this economy quick development could be a long shot, government officials and realtors said..
Kingswood in Deerfield Twp. is closed for the second year after township trustees decided the course took up too much of the Deerfield parks department's time. The township's plan: develop part of Kingswood and create another park on the rest of the land.
Deerfield Twp. Administrator Dan Evers said trustees have had some interest in the golf course but no serious offers to buy it.
"We're evaluating and reviewing the future for the course and what are our options and opportunities," he said. "The economy certainly has gone through some changes since we acquired the course."
The Western Row Golf Course went on the market for $37 million last year. Other than 7.6 acres the Zopff family sold to the Manor House for $1.9 million, the rest remains weedy and vacant.
Amy Sigg Davis, the Sibcy Cline realtor who has the listing, remains optimistic. "I have had continued interest, there has been a lot of looking at it and a lot of thinking about it," she said. "This is not a property that somebody comes along and says, 'Oh, I'll buy that and do something with it'. It requires a lot of planning and forethought."
Part of the township's planning includes applying for a $3.6 million Ohio Job Ready Sites grant, to ready Kingswood for development. The township should know if it will get the money in October.
Deerfield bought the 100-acre course in 2006 to keep the city of Mason from annexing the land. The township ran the golf course for a year. Former township fiscal officer Kristin Spiekerman estimated without that the township stood to lose about $546,326. The course lost $57,236 the year Deerfield operated it. Township trustees closed Kingswood last year so the township has no revenue from it.
The city of Mason also owns a golf course. Mason bought The Golf Center at Kings Island in 2006, primarily so it wouldn't be developed into high-density housing and as an investment, said City Manager Eric Hansen.
In 2007 the golf course brought in $2.4 million in revenue and cost $2.8 million to run. The deficit for this year was estimated at $606,325, however Hansen said city officials always budget revenue conservatively and expenses on the high side.
Hansen said they are putting money into improving the golf course, with the goal that deficits will shrink with more golfers. And with Kingswood and Western Row closed, things look even better, he said.
"This year, with other golf courses ceasing operations, I'm optimistic that the course is doing real well," he said. "It's certainly getting a lot of appreciation from people who talk to me."
Contact this reporter at (513) 696-4525 or dcallahan@coxohio.com.


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