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Golf Services Resources
Recent Projects
- The Yellowstone Club: HVS Golf Services served as an expert witness in the bankruptcy proceedings for the world's only private ski resort and development. HVS was hired by the debtor in possession to provide a market valuation of the club and the remaining unsold land inventory as well as the allocated value of the club house. More...
- Faegre and Benson: HVS Golf Services was hired as an expert witness in the condemnation proceedings of the Canyons Development in Parker, Colorado. More...
- Costa Caribe Ponce Hilton Resort: HVS Golf Services was hired by ownership group to perform a strategic plan to reposition and restructure the golf resort development. More...
- Emerald Dunes: HVS Golf Services was hired to perform an appraisal of the Emerald Dunes golf course in West Palm Beach, Florida. More...
Golf Services - Success Stories
Wyndansea Oceanfront Golf Resort
"HVS Golf Services presents a wealth of knowledge and the specialization in masterplanned golf communities makes their services unique within the industry. The level of detail examined and methodology used by HVS Golf Services to derive conclusions is impressive – and the financial institutions and underwriters concur, as they have been quite impressed with the product, and has stood up well to the scrutiny throughout due diligence.
Working with HVS Golf Services has provided numerous benefits we could not have anticipated. HVS Golf Services introduced other first class consultants to our project and we are very pleased with their deliverables. As we learned of the services available through HVS, the job scope increased, and most importantly, we discovered just how well regarded they are within the industry. Darius Hatami, Man-aging Director of HVS Golf Services is a consummate professional and pleasure to work with."
Elke Loof-Koehler,
CEO,
Marine Drive Properties Ltd.
The Wyndansea development is a proposed golf resort community to be anchored by an 18 hole Jack Nicklaus Signature golf course on 362 acres located in Ucluelet, British Columbia on the southwestern oceanfront of Victoria Island in Canada. The location of the property is spectacular, as it is has significant Pacific ocean frontage as well as significant frontage on the Ucluelet inlet. The site is predominantly rainforest, and is located adjacent to the UNESCO World Heritage site known as the Clayoquat Preserve, and is also in close proximity to the Pacific Rim National Park. The site generally slopes towards the ocean, providing an opportunity to provide views for a majority of the lot and building sites. The tall trees provide a canopy and provide excellent contrast for the ocean views.
The property is proposed to be improved with single-family lots, resort condominium hotel units, resort condominium residential units, and multi family residential units. The Nicklaus golf course is routed along the ocean, and numerous holes are integrated so that the ocean comes into play at numerous points, and is destined to be a classic, offering a premiere golf experience. The amenity package is planned to include a spa, fitness center, oceanfront trail system, commercial development, and complementary amenities.
The local markets include the western coast of Vancouver Island, specifically focusing on transactions in Ucluelet, while the regional markets include Victoria and Vancouver Island, Whistler, British Columbia and the Okanagan. The condo hotel is to be branded a ONE, and will provide an exclusive resort that will be one of the premiere eco resort in the World.
The devel oper had experience in the development of resort residential real estate, as well as condo hotel projects from their past experience, but this was their largest project ot date, and the first to include a golf course. The developer was still working through the conceptual land plans and working their way through permitting of the golf resort community, and needed assistance in the financing and economic planning of the development.
The
HVS Assignment
The client was in the process of financing the acquisition
of the second parcel of land from Weyerhauser, when HVS Golf Services was
hired to perform an appraisal of the land value for the acquisition of the
second parcel for the development. HVS Golf Services was chosen because of
the reputation in providing accurate, comprehensive and timely services and
because of its experience in dealing with golf course communities.
Results
HVS Golf Services completed the appraisal within a few weeks of bieng under contract, and the timely completion of the appraisal allowed for the acquisition of 2nd parcel with inlet frontage, and provided sufficient land for golf course to ber constructed and for additional developable real estate.
HVS Golf Services has since been involved in numerous assignments for the client, Marine Drive Properties. HVS Golf Services followed the "as is" land appraisal with a completion of a market study and economic planning study for the resort residential development, identifying regional, national and cross border competitors, assisting in refining the mix of residential land uses at the property. This document was then uilized to complete several "as proposed" appraisals of the development land. During this time, HVS was instrumental in changing the operational plan from the concept of a high end public golf course to a resort private club concept, mostly to achieve higher product pricing. HVS Golf Services was subsequently hired to guide the membership planning process for the project. HVS coordinated with the law firm of Geisen/Kenney and Troon Golf to develop a membership strategy to integrate the real estate with the golf course and to assist in the planning of the amenity program for the club.
