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December 3, 2009

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Brief: Casino mogul developing golf courses

Tuesday, Dec. 1, 1998 | 11:55 a.m.

Trump is spending $110 million to develop four country-club-style golf courses in suburban New York. The cost of development includes $30 million Trump spent to acquire the land through foreclosure three years ago.

In typical fashion, Trump will affix his name to the courses in a bid to attract wealthy individuals and corporations. Also in typical fashion, he's charging full speed ahead even though the economy shows signs of slowing.

"It's a flip of the coin," said Trump, who is financing the developments through his private holdings and not his Trump Hotels and Casino Resorts Inc.

The first course, called Trump National Golf Club in Briarcliff Manor, a half-hour north of Manhattan, will be ready in late 2000 or early 2001.

For a $100,000 initiation fee for individuals and $250,000 for corporations, members will have access to an 18-hole, 7,000-yard, par 72 course. The clubhouse will include the usual amenities: grill and bar, locker rooms, pro shop and offices.

Trump National is only accepting 350 memberships. Course officials say more than one-third of the memberships have been taken.

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