Responding to the ongoing challenges in the golf and real estate industries, Blackstone Country Club at Vistancia has restructured its golf membership program to help insure its viability in tough economic times.
“The economy has affected the business of golf in many ways,” said Curt Smith, chief financial officer with Sunbelt Holdings, the developer of Blackstone, along with Shea Homes. ”Some private country clubs and golf courses are struggling and developers have had to make difficult decisions. In many cases, these clubs have gone back to lenders or been forced to open to public play to generate income.”
But in a proactive effort between the Blackstone membership and the developers, the program was restructured to generate more growth and revenue by lowering the initiation fee for an equity membership and creating non-equity memberships that include opportunities for corporations and junior golfers.
The new initiation fee on an equity golf membership at Blackstone is $15,000. The initiation fee on the new non-equity membership is $7,500. Offered under the non-equity membership are a corporate membership and a junior membership available for those under 35 years of age.
A limited number of equity social memberships, which allow members access to the clubhouse amenities, with the exception of golf, are available for a $2,500 initiation fee.
The purchase of property in Blackstone is not required to qualify for a golf or social membership.
A permanent advisory committee, comprised of six Blackstone members, met with the developer over a three-month period to listen to recommendations and to present suggestions that the developer incorporated into the new membership program.
Ken Hoel, an advisory committee member and four-year Blackstone Country Club member, acknowledged that the committee had no issue with the developer’s plan in order to keep the club private and sustain the caliber of the amenities.
“These were necessary business decisions that all of our members seem to understand and agree with,” said Hoel. “The vote by the membership passed unanimously.”
Like the other Blackstone Country Club members, Hoel’s hope for the club is that nothing changes except the number of people who are able to experience it.
“The Jim Engh course, where lucky bounces outnumber the bad ones, is very fun to play—and the condition of the turf year-round is the best in Arizona,” he explained. “I’ve had more than one guest describe the food as the best in the state. Include on this list the comfortable yet elegant clubhouse, tennis courts, swimming pools and exercise rooms and you get the idea.”
Blackstone has faced other challenges posed by the declining real estate market.
“The past year has also challenged us to deal with the realities of slower real estate growth and land sales for future neighborhoods within Blackstone and Vistancia,” explained Smith.
Pricing on homes and home sites have been adjusted according to market indicators reflecting a greater value for consumers who’ve always wanted to live in a private community.
Recently released were 21 custom home sites situated between two fairways of the award-winning Blackstone course. Ranging from three-quarters to more than one acre, most of the home sites back up to the course and all offer mountain and city light views. Prices start in the high $100,000s.
“We believe in the success of Blackstone Country Club and the overall value it will bring to Vistancia,” Smith he added. “And we’re committed to keeping it a special experience for existing and new members.”
Call 623-707-8700, ext. 100; for membership information and 623-476-2923 for real estate information. Or visit the Web site at www.blackstonecountryclub.com.
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