Update On The El Conquistador Tucson – Thursday December 18, 2014
El Conquistador Tucson Country Club to Become Oro Valley Community Property
Close Vote On El Conquistador Tucson Country Club Facilities
In a close vote Wednesday night, December 17, the Town of Oro Valley Council authorized the purchase of the El Conquistador Tucson Country Club facilities. Along with the El Conquistador Country Club facilities, the Town of Oro Valley will also become owners of the El Conquistador golf courses.
Acquiring the El Conquistador Tucson Country Club is one part of a double finagle in which HSL Properties buys the Hilton El Conquistador Resort and then sells the El Conquistador Country Club facilities and golf course to the Town of Oro Valley.
The Deal – The Good and The Less Good
The Town of Oro Valley will purchase the El Conquistador Country Club facilities for $1 million payable over 3 years. Increasing the Town Of Oro Valley sales tax rate to 2.5% from 2.0% to do this was also approved.
The good news is the Town of Oro Valley will acquire a facility with over 31,000 square foot facility for about a third of its appraised value. It has been suggested that to build a new facility of similar size would cost $30 to $35 million. On the surface, acquiring the facility for $1 million appears to be a great deal.
The bad news is that the facility and golf courses are in need of renovations and upgrades. These deferred maintenance projects are estimated to be around $5.5 million.
Golf Courses in Tucson Have Had A Difficult Time
Many golf courses across the country have fallen on hard times and a many in Tucson and Oro Valley are no exception. In addition to the El Conquistador Tucson courses, The Golf Club at Vistoso, Oro Valley Country Club and Stone Canyon Club have struggled. All have undergone ownership and management changes in hope of a turnaround.
Under the Town Of Oro Valley ownership, the golf course operations will be contracted out to Troon. Troon is a prominent golf club management company with operations across the U.S. In Tucson, Troon already operates the Gallery Golf Club and Sewialo at the Casino del Sol on Valencia..
I recently played the El Conquistador Tucson Canada course and found it in good condition and very player friendly.
Conclusion
Acquiring the El Conquistador Tucson facilities and golf course will provide a community center for the Town of Oro Valley at significantly less cost than building a new one. Hopefully, golf course operations can become a viable operation for Tucson golfers to enjoy. Only time will tell.
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