FAQ
Q1. Who is Laveen 140, LLC?
Laveen 140 is a subsidiary of Glasir Capital Partners, an experienced Phoenix-based developer of distressed real estate assets. Glasir has a long and successful history of acquiring underperforming properties and creating new opportunities by redeveloping and repositioning with new value-added components.
Q2. What happened to the golf course?
The prior owner closed the course in 2019 and abandoned it. Operational mismanagement allowed the golf course to fall into irreparable disrepair with significant deferred maintenance. This is partly due to a failure to attract enough users to generate sufficient revenue for proper maintenance of the course and ensure profitability. As a result, much of the golf course’s equipment was outdated, including the irrigation system, which is no longer operable.
Q3. Is the property required to be maintained as a golf course?
The property is the subject of a Reciprocal Easement and Maintenance Agreement (REMA) between the golf course owner and the Cottonfields Community Association. The REMA states that the golf course property shall be used solely for golf course uses or open space.
Q4. What is the process for amending the REMA?
Amending the REMA requires the written approval of two-thirds of the Cottonfield property owners, the Cottonfields Community Association Board, and the golf course owner. For that purpose, we are interested in working together on a new plan that benefits all parties.
Q5. What is the vision for the redevelopment?
The vision for redevelopment is to create a new high-quality Par-3 golf course (Par-4 optionality) along with a new residential community that is complementary to the existing Cottonfields community with a variety of different residential product types and amenities. This includes amending the REMA to remove approximately 50 acres of the 140-acre golf course, leaving the remaining 90 acres as a golf course.
Q6. Why are all the holes par-3s?
Two par-4 holes can be played when the course is set up as a par-56 layout. Hole No. 3 (280-yards) and the finishing Hole, No. 18 (300-yards) can be played as par-4 holes. The primary reason for an all-par-3 design is to conserve water. Par-3 holes average about 1 acre of turf each, whereas longer holes require up to 5-6 acres of turf.
Q7. Are there examples of successful par-3 courses?
Yes. A trend among resorts, private clubs, and public courses is to add short par-3 courses or find ways to allow players to play from shorter tees. Many examples of par-3 courses have opened in the past few years, such as Bandon Dunes (OR), Pebble Beach, Pinehurst (NC), and Desert Mountain (AZ). The Short Course at Mountain Shadows, also designed by our Golf Course Architect, Forrest Richardson, has won awards for its outstanding design and condition. During this past Super Bowl®, green fees reached nearly $200 per round. Today, many golfers are willing to pay for the privilege of spending less time playing golf. An all-par-3 course takes less than three hours, compared to 4-5 hours at a regulation-length course.
Q8. Why can’t we just have the same course rebuilt?
The estimated cost to rebuild the 18-hole “full-length” course is more than $15 million, and that does not include any clubhouse or other upgrades. Without responsibly adding some new residential homes, there is no funding to rebuild such a large and long course. So, a smaller and more compact course is required. The good news is that short courses are a popular — and financially sustainable — trend. We have spent many hours and have reached out to third-party consulting to help us arrive at the best option and to make certain it can work and be profitable. These studies have also helped us to understand that a full-length course with 70-80 acres of turf and the associated maintenance cost, is simply not feasible in the current market. This explains why the old course shut down, together with the reality that very few improvements have been made over the years. The old course was simply “past its lifecycle” and the realities of trying to rebuild it have no return on the investment.
Q9. Who will maintain the golf course and landscape?
All of the golf course landscaped areas will be maintained under a master management agreement between Laveen 140 and a qualified golf management company. At present, Laveen 140 has been in discussion with Landscapes Unlimited, the largest golf course builder in the world, and also a company that operates golf courses for independent owners. We expect that Landscapes Unlimited will construct the new course and also be contracted to operate both the clubhouse and golf maintenance responsibilities. Landscapes Unlimited currently operates more than 30 golf properties across the U.S.
Q10. Will the two lakes remain? What improvements will take place?
Yes. The larger lake located to the north and surrounded by existing homes and streets is wholly owned by Laveen 140 and is crucial to the golf course. This lake is the primary storage lake for irrigation water. The golf course has rights to this property for access, to operate the golf course, etc. The smaller lake near the clubhouse is also planned to remain. The total surface area of the two lakes, however, exceeds the State of Arizona limits for golf course lakes (for 18 holes). Our plan — to save water — is to slightly reduce the size of the larger lake (by 15-20 feet all around) and make overall improvements to both lakes so they do not leak and have new landscaping, better water quality, and aesthetics. It is likely (based on planning) that the pump station now at the larger lake will move to an underground vault at the north end of the smaller lake.
Q11. How long will it take to build the new course?
About one full year, from start to finish. Growing the grass may take longer depending on what time of the year the work begins. An outside estimate is no more than 18 months from start to opening day.
Q12. What does the zoning process entail?
The golf course property is currently zoned Golf Course (GC) District, which only permits golf course and related accessory uses. In order to achieve the redevelopment vision, a portion of the property will need to be rezoned to residential. The golf course will remain zoned GC. Throughout the rezoning process there will be multiple opportunities for neighborhood feedback and input, including neighborhood meetings and public hearings. These public hearings include the Laveen Village Planning Committee, Phoenix Planning Commission, and Phoenix City Council. We anticipate final consideration of the application by City Council in 2024.
Q13. What types of new housing units are proposed?
The proposed residences will include a mix of single-family homes, townhomes, and patio homes. There will not be any apartments.
Q14. Will the new residences be part of the Cottonfields Community HOA?
The new residences are expected to be a part of their own, separate HOA.
Q15. Who will maintain the open space and amenity areas?
The new open space and amenity areas will be maintained by the property owners in the new residential community and will not be the responsibility of the Cottonfields Community HOA or its residents.
Q16. Will the Cottonfields HOA have any additional costs or expenses? Will HOA dues increase?
The Cottonfields Community HOA will not incur any costs or expenses with the proposed redevelopment or its ongoing maintenance.
Q17. What are the traffic impacts?
The vast majority of the new residences will be accessed via Southern Avenue or 59th Avenue and will not have a significant impact on traffic for Cottonfields residents.
Q18. What is the timeline for development?
We intend to work at the pace of the community. Once a plan is mutually agreed upon, REMA signed, and rezone approved, then the redevelopment of the site will commence.
Q19. Which phase of development will occur first, second, etc.?
The initial development phase will include the construction of the golf course at the same time as the residences along Southern Avenue. Construction of the residences along 59th Avenue will commence as soon as utilities are installed and available.