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the conservatory: Bobby Ginn Wins Support for Ski Resort from Minturn, Colorado Residents while Facing Mounting Challenges at Existing Developments - 05/24/08 07:53 PM
In a heavy turnout on May 21st, voters in tiny Minturn, Colorado overwhelmingly (87%) supported a referendum to approve the annexation of 5,300 acres into their town. The land, located on Battle Mountain a short distance from Vail, was purchased by the Ginn Company for $32.75 million. Ginn plans to build a ski resort, including 1700 homes and condominiums, and up to two golf courses on the property.
The annexation was previously approved by a unanimous vote of the town council. However, a few locals felt that Minturn residents should have some say in the decision. This group gained enough support … (0 comments)
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the conservatory: The Lubert-Adler Connection – Where does Bobby Ginn's Development Money Come from? - 04/16/08 06:30 AM
I just finished covering the Ginn Championship at Hammock Beach. The tournament is part of the PGA Champions Tour. This was the second year Bobby Ginn's Ocean Course at Hammock Beach hosted the event. As a response to the downturn in the real estate market, Ginn made some changes from last year. The blimp was gone. It's now owned by Direct TV. The number of volunteers was down a little; as was the compensation package they were given. The Saturday night Smokey Robinson concert was limited to Ginn Club members only.
But the tournament did not suffer a bit. By all accounts, … (1 comments)
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the conservatory: Amid a Lousy Real Estate Market, Law Suits, and Rumors, is Bobby Ginn Imploding? Not from My Viewpoint. - 10/04/07 07:26 PM
October 4, 2007 - Palm Coast, Florida - Over the past few months, things in Bobby Ginn's world seem to have been disassembling. Bobby now faces a total of seven law suits; two related to his real estate empire and five to his personal foray into and embarrassing exit from NASCAR racing. Some property owners at The Conservatory at Hammock Beach, mostly investors, are rattling sabers because they find themselves unable to flip lots purchased at the market's peak. Ginn has a new president, Robert Gidel, who, not coincidentally, has very close ties to Lubert-Adler, Ginn's longtime funding source (story). Gidel … (14 comments)
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the conservatory: Auction of Lots in Ginn Developments Yields Disappointing Results - 07/23/07 09:37 AM
The ingredients for a successful sale were there. The auction company was highly respected Sheldon Good, the largest real estate auction company in the country. The properties were desirable, all in private communities developed by Bobby Ginn, rich with amenities packages. The seller was flexible, understanding that the market had changed from the time $2.5 million was paid for the lots two years ago. The sale venue was the Palm Coast Yacht Club. But the buyers were missing - at least enough of them willing to bid seriously. The five properties in the auction were:
Hammock Beach
Lot 41 North Shore Avenue, purchased … (5 comments)
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the conservatory: Auction of Five Lots in Ginn Hammock Beach Resorts Scheduled for July 22nd - 07/08/07 01:37 PM
Palm Coast, FL - Another investor has realized that investing in lots in gated communities is not a sure thing, even with a premier developer like the Ginn Company. The added costs of HOA fees and club dues mount quickly, cutting into potential profits in a rising market or increasing losses when the market goes south. Sheldon Good & Company has often been referred to as the Christie's of real estate auctions. They have been engaged to sell five vacant lots in Ginn Hammock Beach Resorts communities. The Baltimore, MD owner/investor of all five properties has decided to cut her losses … (6 comments)
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Toby Tobin
Palm Coast,
FL
More about me…
Real estate commentator; GoToby.com, Take Action Propertiesi
Address: 35 Riverview Bend S., Unit 1816, Palm Coast, FL, 32137
Office Phone: (386) 597-2185
Cell Phone: (386) 931-7124
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