A King's Deer resident and his father, a North Carolina resident, have teamed up to lease the development's shuttered golf course, with plans to open it next month and buy it once a Nebraska bank forecloses on the property in September.
Almond Golf LLC, a company created by Doug Almond and his father, Larry Almond, leased the King's Deer Golf Course from a court-appointed receiver who controls the property while Nebraska-based Exchange Bank forecloses on the 193.7-acre course at 19255 Royal Troon Drive, said Jeff Kelly, general manager of the course. The property cannot be sold until the foreclosure is completed.
The Monument-based company plans to reopen the 18-hole course for members and King's Deer residents on May 3 and for the public on May 10, weather permitting, Kelly said.
"Our long-term goal is to be the premier public golf course in our state that will attract local and national events that will bring value to our community," Doug Almond said in a statement sent to the King's Deer Homeowners Association.
"As a fellow homeowner, I know that having a premier course in our neighborhood will add value to our properties and create positive experiences in our daily lives."
Larry Almond heads a real estate development company in the Charlotte, N.C., area, and owns several golf courses.
Doug Almond and his wife, Maria, bought a six-bedroom home in King's Deer six months ago for $850,000. In January 2013, he was appointed manager of four call centers in The Philippines for Irvine, Calif.-based Alorica Inc., which also operates a center in the Springs.
Doug Almond "just moved to the area and bought a house on the course expecting to play golf and be a member here," Kelly said.
"He was surprised by the foreclosure and was in a position to do something about it," Kelly said. "Doug told us he is committed to make this a five-star facility."
Kelly said Almond Golf plans to spend $100,000 over the next few weeks to aerate and fertilize the course, lease golf carts and credit-card processing equipment and hire up to 30 employees to ready the course, clubhouse, pro shop and restaurant for reopening.
The course staff will be headed by Kelly, course professional Nate Vincent and superintendant Mark Hassell.
"This is the best possible result: A resident in the neighborhood is leasing the course and has the best interests of the neighborhood at heart," said John Highhouse, president of the King's Deer Homeowners Association.
The course opened in 1999 as the centerpiece of the upscale King's Deer development, which has 338 homes on 531 lots built along the Palmer Divide 7 miles east of Monument.
Kings Deer Golf Club LLC acquired the course in 2010 and hired Tri-Lakes Golf LLC to manage the property. Tri-Lakes Golf also managed the Monument Hill Country Club and a golf course in Pagosa Springs.