Word: andrewse
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In an iconic building behind the 18th green, Wasserman Real Estate Capital, based in Providence, R.I., is selling 23 serviced apartments for $10 million to $16 million apiece in a project it calls St. Andrews Grand. And on a bluff overlooking the town, billionaire developer Tim Blixseth is planning a...
But what happens when developers who see golf as a way to sell high-end time shares, apartments or hotel rooms come to a town that views golf as an Everyman's game and itself as the guardian of that ethos? The Old Course is a muni run by a...
It may not get a warm welcome. Mark Parsinen, who oversaw Kingsbarns, a successful public course near St. Andrews, said developers are mistaken if they think St. Andrews can be to golf what Aspen has become to skiing. "It is fascinating to watch how wealthy golfers willingly go downmarket in...
Local business owners understand the potential benefits of upmarket foreign investment in St. Andrews, a town of 17,000 where tourism accounts for roughly 1,700 jobs and $120 million in income annually. An organization called St. Andrews World Class has dedicated $22 million in taxpayer money to sprucing up...
Still, St. Andrews has become the focal point of a boom in extravagant American-financed developments in Scotland. Seven are in the works, including a $500 million development in Aberdeenshire by Donald Trump, who claims, with characteristic Trumpian restraint, that he will build "the best golf course in the world...