Forbes: Tiger's Mexico Project Moving Ahead

Forbes.com's Kurt Badenhausen reports that Tiger's Mexico project is very much on track to start soon and that in a novel concept proving some developers have learned from the economic crisis, it's going to be about the golf first and eventually, the real estate.

Woods’ latest project is Punta Brava which is located 65 miles south of San Diego in Mexico. I traded e-mails with the developer Brian Tucker this week and he says that the course is on track to open in the second half of 2012. The course faced delays obtaining environmental permits, but the permits have been secured and course construction is expected to get under way this year.

“When you have a site surrounded on three sides by ocean and a golf architect (Tiger Woods) that completely integrates it by designing 17 tees or greens on/adjacent to the ocean and over half a dozen shots that play over the pacific, you have the opportunity to create something special–a true golf club–not just another real estate development with golf, ” writes Tucker. It is a daring strategy by Tucker who says that individuals will be invited to join the club and then: “After the course is open the club will have a real estate offering, but when it does it will only be to the members.”

Or, they just don't have the permits yet for the real estate. Either way, I bet this one works out in the end.