It's Official: Glen Abbey Will Not Be Subdivided

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It never made an ounce of sense and several years after Glen Abbey was designated a heritage site, the owners have officially dropped all efforts to turn revisit development plans. The many-times Canadian Open seems safe and folks will be able to keep trying one of the greatest non-GIR shots ever hit by Tiger Woods, or any golfer.

From an unbylined CBC report:

Ontario Municipal Affairs and Housing Minister Steve Clark said in a statement Friday he'd secured a commitment from Glen Abbey owner ClubLink Corp. to not go ahead with its plans.

"I am incredibly thankful to ClubLink for its cooperation and for ensuring that this heritage landscape will be protected from development," Clark said. 

Preserving the golf course was "precisely" what the town, Halton region and residents wanted, Oakville Mayor Rob Burton said in a statement.

"The thousands of letters written to the province made a difference and showed how our community is an engaged community," the mayor said.

Ginn FInally Files...

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...defaulting on a $675 million loan...Jeff Ostrowski reports (thanks Steven T.)

Two affiliates of Celebration-based Ginn Resorts last week filed a flurry of Chapter 7 petitions. Ginn sought bankruptcy protection for Tesoro and for Quail West in Naples. Tesoro will continue operations under the supervision of the bankruptcy court and a court-appointed trustee until the property is sold, Ginn said in a statement.

The two Ginn subsidiaries, Ginn-LA CS Borrower LLC and Ginn-LA Conduit Lender Inc., owe Credit Suisse $675 million. Ginn defaulted on loan payments in June and had been negotiating with its lender since then.

The loan covered Tesoro, Quail West, Ginn sur Mer in the Bahamas and Laurelmor in North Carolina. Ginn said it has found a new owner for Laurelmor and entered into a joint venture with the lender to complete Ginn sur Mer.