By Deborah Goonan, Independent American Communities
The saga of failed golf course communities continues.
Silverstone Ranch HOA in Nevada recently asked a judge to sanction the new golf course property owners for $2 million. Why? Because now that the new owners have gone out of golf business, they have shut off all the water to irrigate the golf course that happens to sit in the middle of a desert. The vegetation is dying, and the ponds are drying up. According to the legal complaint, property values in Silverstone are plummeting.
Here’s the report:
JUDGE MAY PURSUE SANCTIONS AGAINST FORMER SILVERSTONE GOLF COURSE OWNER
The idea of building a subdivision around a golf course had its heyday, but perhaps those days are now gone. It costs a veritable fortune to maintain greens and surrounding landscape of any golf course.
At one time, amenities such as golf courses were built separately from residential neighborhoods. That way, if the commercial enterprise went out of business, and the owner sold or requested rezoning of the land, it did not directly affect homeowners.
Now that golf courses are closing all over the country, many thousands of homeowners are affected.