Tough economic times and a slowdown in the local construction industry have resulted in the closing of the Waterford Landing Golf course after 20 years in business. It has been owned or operated by fived different entities over the last 20 years and it has never made a profit, with losses in some years that exceeded $200,000. The most recent operator was
Tim Hepler, a PGA pro and course operator from Florida. Mr. Hepler operated the course for the last 3 years under a lease option agreement in the hopes that the business could be grown to a point where he could finance the purchase of the course, however,declining revenues prompted him to terminate the lease early and accept a position as a course manager in Maryland.
When asked to comment on Hepler’s decision, course owner Brett Turner says, “it’s very unfortunate for Richmond Hill, the Waterford Landing community, and for our company that the course is no longer a viable business.”
Turner has been in close communication with Hepler regarding the financial state of the course and he has been proactively trying to sell the course. With a sharp decline in revenues over the last year and few buyers out there looking for golf courses, Turner has been unable to find another buyer for the course and has been forced to shut it down.
“Our primary goal in this transition is to minimize any potential negative impact to resident’s property values in Waterford Landing. We have begun an active dialogue with the board and golf committee of the homeowner’s association with the goal of developing a plan to save the course or find an alternative use of the property that is mutually beneficial for the community and our company. We hope to develop a plan quickly before much damage is done to the course from lack of regular play and maintenance,” said Turner.