image above: PPG Development and the investment firm Taillard Capital are spending $100 million to redevelop about 10% of the 167-acre golf course.

 

Golf courses are closing across the country amid low interest by millennials. But a South Florida duo are betting millions that living on Hollywood’s top-rated greens will win the prize.

PPG Development and the investment firm Taillard Capital are spending $100 million to redevelop about 10% of the 167-acre golf course at the Club at Emerald Hills, adding a two-story clubhouse, 416 apartment units, 30 townhomes and 40 golf villas, as first reported by the Real Deal. All will be rentals.

Nicklaus Design, founded by the former professional golfer Jack Nicklaus, will redesign the 18-hole golf course. Miami architecture firm Kobi Karp will design the clubhouse and residences, located at 4100 N. Hills Dr., between Stirling and Sheridan streets.

Both Ari Pearl, principal of PPG Development, and Mickey Taillard, president of Taillard Capital, are Hollywood residents and club members.

“Emerald Hills is booming and has continued to boom throughout the pandemic. Every community needs a center for people to gather and a variety of housing options. The Club used to be the center but Emerald Hills always lacked housing options,” said Pearl by email. “This project will give Emerald Hills its Center back, and will give the community new luxury rental units which it currently does not have.”

View Source: The Miami Herald