RXR Realty and ClubCorp teamed to save Engineers Country Club.
How can a prime piece of real estate on Long Island’s Gold Coast survive as a golf course in today’s white-hot housing market?
Well, for Engineers Country Club in Roslyn Harbor, New York, survival came down to a local major real estate company partnering with one of the country’s top club management companies.
Engineers CC, once a far-off getaway for the members of Manhattan’s Engineers Club, has a long and important golf history. The home of the 1919 PGA Championship and the 1920 U.S. Amateur, the course was designed by Herbert Strong and remodeled by Devereux Emmet and Frank Duane.
RXR Realty and ClubCorp teamed up to save the 140-acre tract by preserving the golf course while planning to turn 18 acres of open space into condos and townhomes.
RXR announced its purchase of Engineers in 2017, when the club was struggling financially. Throughout the United States, the financial pressure to build residential property has claimed golf courses as the value of their real estate...