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By Caitlin Kelly
New York Times – September 6, 2006
If there’s anything sweeter for a
passionate golfer than hitting a hole in one, it’s waking up
every morning to the possibility of achieving one.
Luxury Properties
Driven by retiring baby boomers, luxury
developments have grown considerably in the past four or five years. “The
demand is there,” said
Jack Purcell, publisher of Links magazine. “There’s a lot
of money still out there.”
Well-known luxury developers like Donald
Trump and the Ritz-Carlton hotel chain have moved into this popular
market. The Trump National
Golf Club opened in 2003 in Briarcliff Manor, N.Y., with a 65,000-square-foot
clubhouse and a course designed by Tom Fazio. Sixteen three-bedroom,
five-bath houses priced from $2.2 million to $3.5 million were built
on the property. They have all sold, officials at the club said. Most
owners live locally in Westchester county, a 40-minute drive from Manhattan,
or in Connecticut or New Jersey. The course offers touches like an
artificial 101-foot waterfall constructed at the 13th hole.
A new Trump
golf community of 50 houses priced from $5 million to $20 million is
being built 30 minutes’ drive south
of Los Angeles. Each house and its pool are custom-designed, said Andrew
Lemke, the
club’s vice president of real estate. Under state law, the Palos
Verdes Peninsula must remain open to the public, so anyone can play
at this ocean-side course for $195 to $300 per person.
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