RESORT AT EAGLE POINT GETS NEW OWNER (April 2021)
PARKS LEGACY PROJECT LAUNCHED (March 2013)
PARK LEGACY PROJECT'S KEITH MISHKIN FOX NEWS INTERVIEW (September 2012)
PARK LEGACY PROJECT'S RICHARDSON PBS INTERVIEW (February 2012)
PARK LEGACY PROJECT'S RICHARDSON: WIGWAM RESORT TRANSFORMATION (February 2010)
ARIZONA BILTMORE ADOBE COURSE FLYOVER TOUR (January 2008)
RESORT AT EAGLE POINT GETS NEW OWNER (April 2021)
Announcements concerning the transition to new ownership at the Resort at Eagle Point, Golf, Lodging, Dining & Event Center
A change in Ownership is coming for the Resort at Eagle Point, Eagle Point, Oregon. Next month, a subsidiary of Phoenix-based Parks Legacy Project USA, LLC will acquire the Golf Club and Lodge from the Hyer family as part of its growing portfolio of golf course properties.
The new owners have also arranged acquisition of additional properties adjoining the golf course, including future Chalet properties near the Clubhouse, the planned Fairview Homes development parcel above the 15th Hole, and the planned Inn/townhome development parcel along the 9th Hole. A closing date has not been set, but is expected to occur during May. The transaction includes Bob and Chana Hyer, core co-workers, and WaFdBank out of Medford.
Existing management at the Resort at Eagle Point will continue in their existing capacities, authority, and duties with the resort continuing to operate as The Resort at Eagle Point. “Our commitment is to continue and improve upon the great work of the Hyers,” notes Alan Mishkin, Founding Partner of Parks Legacy Project. “Eagle Point represents the best golf experience in the area, and we recognize it serves the community as a point of pride — which is our goal moving forward.”
The Parks Legacy Project leadership team will manage the transition from Bob and Chana Hyer as they move into their planned retirement. In purchasing the resort and golf course, the new ownership recognized the tremendous legacy of the Robert Trent Jones, Jr. course along with the value brought forth by its members and staff. “Our future planning will focus on more support, oversight and capital,” commented Bill Rowland, Chief Development Officer for Parks Legacy Project. Rowland indicates that there are no immediate plans for changes to the golf club and that a schedule for development of the additional parcels has not been set. “We’ll take the first 100 days to work with the existing management team, members, Eagle Point Golf Community HOA, City of Eagle Point and others before we make commitments or formal long-range plans,” he added.
The new owners will be working on strategies to enhance and refresh the golf course and club facilities, now in their 25th year of operation. Anticipated improvements will include re-invigorating and expansion of the restaurant and banquet areas and adding more chalets to meet the golf-centric and tourist demand for lodging. Rowland has indicated that planning for adding homes in the expansion areas adjoining the golf course (Fairway View Home sites above the 15th Hole and along the 9th Hole) will begin over the summer.
According to the Hyers, bringing state-of-the-art golf instruction and training to the club, combined with “Stay-and-Play” golf packages, are all part of the future plans. Golf services and instruction will continue to be led by Scott Lusk, PGA and his management team. As improvements and changes are considered at the course, Golf Course Architect Forrest Richardson, ASGCA (www.golfgroupltd.com) will interface with Robert Trent Jones, Jr. to preserve the award-winning design. “Mr. Jones is a good friend and has been a mentor to me in many ways,” said Richardson, who this year is President of the American Society of Golf Course Architects. “Maintaining integrity of Bob’s design, while working to refurbish the course, will be done with care and foresight.”
Parks Legacy Project (www.ParksLegacyProject.org) was founded by Alan Mishkin and his son, Keith Mishkin, along with Forrest Richardson, ASGCA. The group serves as a think tank and ownership group with a primary mission to provide for the improvement and long-term financial sustainability of golf courses. Results are achieved through repositioning and improvements; and with responsible creation of lodging and residential neighborhoods as a means to fund essential capital needs without added debt. The approach restores and rejuvenates aging golf properties, one of the most troublesome situations facing golf facilities across the U.S.
For additional questions or comments, contact Bill Rowland who leads the Parks Legacy Project team; Bob Hyer who is guiding the transition; or Scott Lusk, General Manager, who is leading the team of professionals who will continue to oversee golf, lodging, restaurant and event services.
Bill Rowland, Chief Development Officer, Parks Legacy Project USA LLC
14602 N. Tatum Blvd., Phoenix, AZ 85032
bill@parkslegacyproject.com | 480-869-4706
PARKS LEGACY PROJECT LAUNCHED (March 2013)
(Phoenix, Arizona) Parks Legacy Project, a redevelopment initiative of long time Arizona developer and visionary Alan Mishkin has been formed along with key leadership members. The focus and objective of the Parks Legacy Project is to find creative solutions to the problem of neglected and underfunded public and private open space lands in U.S. communities.
"What we have noticed is that open spaces, whether parks, golf courses or preserve spaces, are rapidly deteriorating," says Alan Mishkin, Founding Partner of Parks Legacy Project. "Cities and community associations are simply running out of ways to keep up with conditions and the replacement needs of infrastructure." In response to this need, Mishkin and a group of professional real estate, planning and recreation consultants have devised a solution-based approach to making upgrades to open spaces while simultaneously engineering long term financial sustainability.
"It is sad to see a golf course that has been a part of a neighborhood all of a sudden come to the point of being closed and turned into wall-to-wall development," adds Keith Mishkin, who serves on the Parks Legacy Project's Board and brings a storied career of real estate knowledge to the table for the new concept. "Not only is the immediate neighborhood losing its open space that it thought was there forever, but we often see recreation opportunities diminished in the process."
While each project of the Parks Legacy Project is approached with unique real estate and financial measures, Keith Mishkin summarizes the umbrella approach that is applied to a situation where an open space asset of a city or under public control is about to be lost to worsening conditions and financial khaos:
In a situation where a public recreation asset may have to be closed because there is not enough funding to repair it and offset losses, our first approach is to look for any potential to redevelop under-used land. This land can either be within the asset or located somewhere else that is under the control of the public entity. On a golf facility, for example, we can look at ways to reconfigure the golf course, change its make-up to a shorter layout or perhaps reduce holes from 27 to 18, or 18 to 9. In many cases we are able to simply find under-used land and make nominal reconfigurations that allow for an appropriate level of development. In this case the course is really not changed at all, yet the effort sets in motion a long term financial return. Regardless, solutions are always proposed that will complement the available golf facilities in the market.
From this point, the planning, we then set out to see how we may be able to make financial sense of any land that is made available by way of the reconfigured facility. This may be housing, neighborhood services or specialty commercial. This is the key that unlocks our ability to set in place a long term and sustainable program, in essence creating a win-win situation for everyone involved.
That program, the heart of the Parks Legacy Project concept, is to build in one or more reoccurring revenue streams to the project. This may come in the form of increased revenues from more efficient management and a better product, as well as potential lease payments generated from new development. Tax revenues to the public sector may also be used to sustain public park facilities. Each project is analyzed for its specific characteristics. There is no one-size-fits-all approach, yet the overall concept has shared hallmarks.
In addition to Alan and Keith Mishkin, the leadership team of Parks Legacy Project includes Peter Robbeloth, a golf management consultant; and Forrest Richardson, a golf course architect and golf planner.
In the coming months Parks Legacy Project will have begun planning and discussions with several Arizona cities including those in Southern, Central and Northern Arizona. Specifics of these projects have not been disclosed due to the confidentiality of on-going negotiations and specific details.
"The exciting news is that we are beginning a new and much needed concept," adds Keith Mishkin. "The benefits will be realized far beyond the immediate neighborhood to all who use these park and golf facilities. Mostly the financial health of the public's money will be in better shape because we are able to find ways to stop or reduce the losses, and at the same time make the needed improvements that have been deferred for several years."
Mishkin notes that among the early projects identified and on the table are a combination of public sector and private sector golf projects. The combined value of the potential improvements exceeds $14 million with, thus far, no further investment by any public or municipal entity.
PARKS LEGACY PROJECT'S KEITH MISHKIN FOX NEWS INTERVIEW (September 2012)
PARKS LEGACY PROJECT'S RICHARDSON PBS INTERVIEW (February 2012)
PARKS LEGACY PROJECT'S RICHARDSON: WIGWAM RESORT TRANSFORMATION (February 2010)
PARKS LEGACY PROJECT'S ALAN MISHKIN LAS PALOMAS GOLF RESORT (June 2012)
ARIZONA BILTMORE ADOBE COURSE FLYOVER TOUR (January 2008)
