Luxury Hotel that never was
Another part finished luxury golf development is facing financial issues. Harbor Station in Virginia. All I can say is it is about time the Federal reserve printed some more money or we are going to see more of these things collapse. A few county authorities sensibly refused to allow golf courses to be built until after the residential development was completed, but Prince William County apparently needed the backsheesh and the first part completed was the Jack Nicklaus-designed golf course which was to be followed by 4,000+ McMansions and the usual conference center, luxury hotel etc.
Work on Harbor station has now come to a standstill, with one of the entrance roads blocked with a decrepit speedboat and metal piping. Although – according to Inside Nova, the local county supervisor, Corey Stewart, remains “optimistic,” despite the fact that no homes have been built and the golf course has sat idle for two years now. Contractors in Virginia, North Carolina and Florida have filed millions of dollars worth of liens against the current owners, Lee Carolina, which has canceled or delayed most of it’s projects until the Fed turns the presses back on. The main $100 million loan is in default, so I suspect the county will have another golf course to look after in the not too distant future.
Entertainingly, Prince William County’s department of economic development still has their sales pitch up on the county website which states, This planned facility will provide support to tourism, economic development, and revitalization of the Potomac Communities,” said Sean T. Connaughton, Board Chairman. “This complex will not only be a first of its kind in Prince William County, but a truly unique blend of luxury hotel, premier golf, and quality conference space not seen in Northern Virginia.” Website.
Probably time to take it down now? Interestingly, the only golf developments going ahead at the moment seem to be the mafia-sponsored ones. I was invited recently to visit the Isla Viveros development in Panama. After the scathing write-up I gave them? No thanks – I do not want to end up with a concrete overcoat.
