Housing Developer Offers $120 Million For Top Canadian Course

Thanks to reader MJ for this stunning Globe and Mail story about the National Golf Club of Canada considering a $120 million sale to a real estate developer. The No. 3 course in Canada in Golf Digest’s latest ranking and an exclusive all-men’s club, is situated on prime Toronto real estate but has members fleeing due to excessive difficulty and cost.

From Andrew Willis’ story:

When noted golf architects George and Tom Fazio designed the National, which opened in 1974, it was well north of Toronto’s suburbs. Over more than four decades, the city swallowed the club. Large homes now surround the course, while shopping malls, Canada’s Wonderland amusement park and a subway station are minutes away.

In recent years, an increasing number of National members decided to unload their stakes, in part because aging golfers often find the course too challenging to play enjoyably. Not enough new members stepped forward and there are currently more sellers of memberships than buyers, according to Roxborough, who declined to comment on the exact numbers. Several sources at the National, whom The Globe And Mail granted confidentiality to because they were not authorized to speak for the club, said dozens of members are currently trying to sell their stakes, which typically change hands for around $40,000. Annual dues at the club are about $12,000.

Hundreds of course closures have occurred in recent years, but I’m fairly certain this would vie as the most significant