Ex-Tiger Woods Golf Course Site Just Sold For -36% Below 2016 List

Nearly 800 acres in Swannanoa, Virginia, once slated for a Tiger Woods-designed golf course and a luxury housing community has sold for $15.3 million, -36% under 2016 list, reported Golfweek.

The property was going to be called The Cliffs at High Carolina, would have featured 1,000 luxury homes and what would have been the first U.S. golf course designed by Woods. It was sold in April by David Straus of Straus Family LLC. for about $15.3 million, a -36% discount versus the original list at $24 million in 2016.

"We didn't really want the property anymore and there were a lot of expenses involved in it," Straus told the Citizen-Times on July 9. "At that point, the house we had on it we would use to vacation on it had been torn down to make way for the golf course. It really didn't have the kind of value to us anymore that we wanted, so we had been trying to sell it for a number of years."

Straus said that a representative from the new owner, New Fort LLC., a  South Carolina-based firm, had no comment on the sale.

He noted he signed a nondisclosure agreement with New Fort LLC. during the sale of the land.

Golfweek magazine says it's not sure if Woods has any plans with the new owners.

The first Woods-designed course opened in April 2016, called Bluejack National, a private course located within a housing community in Montgomery, Texas.

In 2010 to 2012, Woods was actively promoting his new High Carolina project, shown in a 2012 YouTube video:

The promotion even had billboards on major highways featuring Woods and an image of the property in the background with a quote that read "See what inspired me."

With Wood's High Carolina project dead, it seems Straus has unloaded the property in a period where real estate conditions are fragile in the Mid-Alantic.