Michigan golf course wants to sell part of its property for $60 million marijuana facility
This is one way to subsidize golf courses in 2018
The Southmoor Golf Club in Burton, Michigan wants to sell some of its property to a company that would build a "large-scale, multi-million dollar medical marijuana facility." So, that's one way to diversify your revenue streams as a golf club in 2018.
It's no secret that golf courses in this era are struggling, and the owners of Southmoor have felt the burden of that for a while now. Here's MLive on the proposal.
Planning commission members voted 5-2 on Jan. 9 to allow the business to change 37 acres of the roughly 95-acre grounds from general commercial to light industrial, which could clear the way for a commercial medical marijuana site, including multiple grow houses, processing center and a biomass power plant.
David Boji, one of the golf club's owners, told commissioners the golf course has been losing money for several years and he and his father, Wilson, have been searching for other potential developments on the grounds.
The marijuana project would run close to $60 million and could employ hundreds of people, according to the report.
With the decline in casual golfers over the last few years, it's easy to make the case that the ones that have fallen away are the ones that weren't extremely serious about the game to begin with. The ones with more hurdles to clear like, say, playing in cold temperatures similar to what Michigan offers.
It will be interesting to see what other owners of small clubs like this do in the coming years. They have a very valuable commodity (property) that is being used for a service that is seemingly declining in value or not as fruitful as it could be when used for something like marijuana. Will they sell land to subsidize the golf? Will they get out of the business altogether? These are interesting times for small golf courses.
There is still another hearing later in January before the land is officially zoned for marijuana, but this certainly looks like it's going to go through. And maybe that's good for everyone, including the golf course.
Burton Mayor Paula Zelenko argued the zoning change is conducive to the area, with other businesses close by in the light industrial category and called Southmoor "a good public partner with the city and a good community supporter."
She pointed out Southmoor came to the city looking for a way to save their business and the change would offer them a chance to seek additional opportunities on the property.
Our advanced computer model simulated this week's 2018 WGC-HSBC Champions 10,000 times
You may have missed it on Sunday morning, but Koepka took over the top spot in the golf wo...
The three-time major winner is closing out 2018 in style
Koepka is inching closer toward earning the No. 1 in the world moniker
This is an interesting development on one of the tours leading into the big boy PGA Tour
Can Koepka win a non-major this week?