Sunday, November 19, 2006

The Latest on Boot Ranch

Boot Ranch is the controversial luxury golf course development outside of Fredericksburg that is the brainchild of Hal Sutton.

It's been controversial because of part of the financing for the development came from the pension fund of Louisiana police officers, and the members of that pension fund are unhappy with how their retirement money has been invested; and because of water issues in the Texas Hill Country, including decreased supply and increased demand. (Gee, nobody could have seen that coming, eh?)

But the golf course itself has been open for a while. Now Sutton's challenge is to sell home lots, and to sell club memberships.

The San Antonio Express-News has a lengthy article detailing the rocky road to fruition that Boot Ranch has traveled. Among the things we learn in the article are:

  • Membership initiation fees are $175,000, and dues are a minimum of $1,000 per month.
  • Sutton has sunk northwards of $30 million of his own money into the development.
  • Former President George H.W. Bush is an honorary member, although he has no plans to visit the club.
And that the pensioners continue to fight, and that area water rights owners continue to fight. You can read the full article here.

Also, the Boot Ranch Web site is now up and running.

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