Spaulding Point DevelopmentSpaulding Point Development

Project Description

Project: Old Palm Golf Club is known for its 33 acre golf practice facility and for its Raymond Floyd designed championship golf course. Its 43,000 square foot clubhouse offers concierge service, guest accommodations, spa and salon services, dining, and a fitness center. With only 294 homes, this community offers a small town charm and is one of the most exclusive golf clubs in Palm Beach County.

Involvement: Managed the asset through bankruptcy and during the period of construction pause post-bankruptcy.   Successfully managed to complete a contested turnover of the City of Palm Beach Gardens potable water well field that was situated within the master planned community to Seacoast Utility Authority.  Assisted WCI* in the disposition of Old Palm Golf Club in 2009 as a part of the strategic plan of reorganization allowing WCI to meet its $300M debt obligations within the first 12 months of emergence.  The asset was sold for more than $40M.

Size: Master planned community from $1M to over $10M.

*Danville Leadbetter was an employee of WCI Communities from 2007-2012.

Project Detail

  • Residential
  • Palm Beach Gardens, FL