Overview
Amundsen Davis’s real estate team represented a client who sought to create a New Urbanist design development upon ground leased for an 18-hole championship golf course by negotiating a purchase of 226 acres of ground owned by the University of Missouri that was interspersed between the golf course. We represented the developer in lengthy negotiation of a complex purchase and development agreement that required review and approvals by the University at various stages and profit sharing with the University. Further complicating the transaction was a Missouri Statute that restricted the University from selling assets at less than market value and required a bidding process. Finally, to preserve the golf course and natural terrain, alternative development standards, including street configurations had to be utilized, which required persuading both the University, St. Charles County and the Fire Protection district to permit such alternative standards, which had been used in other mountainous jurisdictions but not in this region.
