First Mirasol with $40 million, then BallinIsles with $35 million and then Ibis at $37 million and now Admiral's Cove. Mirasol renovation did what many of the members only clubs in Palm Beach County are trying to do, make their clubhouses more appealing to active adults. These three and now Admirals Cove, are the most expensive projects in northern Palm Beach County in recent years. There are at least 10 communities that afford millions and upgrades in this fast-growing north end of the county. These spacious, new clubs are part of a relentless competition to capture younger clientele and grow their membership.$200 Million in Renovations to Clubs in Palm Beach County

So what does this mean for homeowners? Well, the higher price often comes with substantial fees assessed to homeowners. And younger buyers are especially sensitive to the cost of membership fees. Some homebuyers may have a difficult time psychologically paying less for the actual real estate than the club membership. However, you have to look at the overall picture. Some of the clubs can be very affordable and attractive. Mirasol residents are paying back $30 million in loans with a $175 per month increase in their assessments for golf and tennis memberships. The higher price certainly doesn't turn away a lot of older members, but it might deter some younger members. The average age for most of the communities in Palm Beach County is about 63 but, young professionals are now moving in and there are about 600 children that already live in the community with their families. They're trying to attract a younger generation with all of these upgrades and renovations. The PGA National Resort & Spa recently renovated is 33,000 square-foot sports and racquet club, which was in dire need of some upkeep. Jonathan's Landing charges homeowners between 3000 and $5000 for a one time fee for their 10 million-dollar clubhouse renovation completed in 2016. In places like BallinIsles, no new assessment is expected, only a loan to be paid back over 12 years. 

In the 90s, golf courses didn't need to be as imaginative. A great clubhouse and lounge was all it took to attract buyers but today, people are looking for resort style amenities, restaurants, markets, child care and more. People also want to feel they are getting a good return on their investment and that means keeping up with changes and the competition. 

Learn more about the Admiral's Cove renovation here.