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Wedgewood Cove changes its partners
Petersen sells his share, will remain consultant
Published Wednesday, November 12, 2008
The company that owns Wedgewood Cove Golf Club & Estates has announced a change in partnership.
Cove Holdings LLC had been owned by Jerry Vogt, Paul Field and Clayton Petersen. Petersen sold his interest to Vogt and Field. The change was effective Oct. 24.
Petersen purchased 160 acres in 2005 from the Albert Lea Port Authority with the intent of building a residential subdivision. Albert Lea real-estate broker Hugh O’Bryne was Petersen’s partner on the project. He added some acres to the project.
When Lakeville commercial developer Scott LaFavre purchased the Albert Lea Golf Club in May 2006, he closed the course. Albert Lea was left with a single golf course. Petersen and O’Bryne shifted their plans and decided to build a golf course with an urban design called coving, which uses varying lots and setbacks for residences.
O’Bryne dropped out in June of last year when Field and Vogt joined. O’Bryne’s Century 21 real-estate office remains the agency for the sale of lots at the development. With a few other purchases, Wedgewood Cove presently is a 254-acre development.
Vogt and Field are Albert Lea businessmen. Vogt is a co-owner of Mrs. Gerry’s Kitchen Inc., and Field is the owner of Home
Solutions Midwest. Both are Albert Lea companies.
“Because of the size and the scope, Clayton decided to take an option to get out of the project,” Field said.
Clayton Petersen
Paul Field
Petersen is an agronomist who works for farmers in the region. He will remain with the Wedgewood Cove project as a consultant until the golf course is finished in the spring. He said he will continue to help the golf course superintendent.
“I have spent many hours to make sure we brought one of the finest golf course developments to this area, and I am very proud of what will be a great asset for Albert Lea and the surrounding area,” Petersen said.
Field said Wedgewood Cove’s clubhouse is slated to open in May 2009, with the first nine holes to open in June. The second nine would be weeks after that. He said the schedules could change depending on weather conditions.
The clubhouse will be open to the public for dining. The course will be open to the public, too. According to a news release written by Field, the clubhouse will have a bar, restaurant and banquet facility with seating for more than 400 people.
“We are very pleased knowing that we have weddings, class reunions and Christmas parties already booked for the 2009 season,” he said.
Wedgewood Cove Golf Club & Estates on the north side of Pickerel Lake will feature more than 150 residential lots interspersed among the 18-hole golf course and walking trails. The development employs an urban-planning design called coving.
According to a 1998 New York Times story about the new method of laying out subdivisions, it “combines the financial advantages of more traditional methods with an almost free-form approach to lot sizes and shapes, setbacks and the positioning of houses on individual lots. The goal is to have no two houses look directly into the windows of any other.”
The method was pioneered by St. Louis Park urban designer Rick Harrison.
Wedgewood Cove Golf Club & Estates was designed by Gill Design of River Falls, Wis.
Petersen said he has enjoyed being part of the project’s layout and design.
“I will take a lot of pride in what was accomplished there. I think Jerry and Paul will do a great job there,” Petersen said.
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Comments
Posted by Wildbill (anonymous) on November 13, 2008 at 10:30 a.m. (Suggest removal)
I just hope this turns out successful.
Posted by Outsider (anonymous) on November 13, 2008 at 10:42 a.m. (Suggest removal)
Don't hope, support it.
Posted by taxpayer (anonymous) on November 13, 2008 at 11 a.m. (Suggest removal)
I will support it if I can afford it. Otherwise I will continue to give my business to Oak View. Plain and simple.
Posted by jackson (anonymous) on November 13, 2008 at 11:04 a.m. (Suggest removal)
I support the project very much. However, being realistic, I am thinking about 90% of the local population will not be able to afford memberships to the course or the cost for the residential lots. The big draw will be having a nice banquet facility. Other than that with the economy the way it is, I am not sure who will be able to afford what it has to offer. Best of luck to the developers though, I hope I am wrong.
Posted by tmfresh (anonymous) on November 13, 2008 at 11:06 a.m. (Suggest removal)
I hope it is a huge success. It is so sad to see the condition of the old country club.
Posted by Wildbill (anonymous) on November 13, 2008 at 11:44 a.m. (Suggest removal)
The banquet facility and the golf course will do well if for no other reason than the newness of it. Hopefully the lots sell also.
Posted by mosedart (anonymous) on November 17, 2008 at 1:34 p.m. (Suggest removal)
I hope this does well becuase Green Lea has gotten out of hand. There is no longer a ranger and it's not uncommon to see groups of 6 or 7 of Jeff's friends playing as a single group holding up everything. I'm really fed up with the way Green Lea has been run and it's about time there is another local option. I'm not alone on this, I have a feeling Green Lea will be losing A LOT of business to Wedgewood.
Posted by TICKED (anonymous) on November 17, 2008 at 7:17 p.m. (Suggest removal)
to mosedart: For your information, Green lea has been in business and run successfully for 60 years. Green Lea also has rangers posted on every weekend and on league nights. Groups of 6 to 7 are not allowed, because, yes, they do hold up play. Obviously you are not an avid golfer, nor do you play at Green Lea. thank god! Do not spread untruthful rumors that you obviously know nothing about. Go ahead and play elsewhere. I wish you luck - your are going to need it!
Posted by mosedart (anonymous) on November 18, 2008 at 1:57 p.m. (Suggest removal)
Actually I've been a member at Green Lea for over 15 years and play several times a week. Maybe if friends of the owners weren't allowed to run wild and do whatever they want that course might still be playable. Another huge problem is people teeing off number ten even though I'm putting on the number 9 green! I used to love playing at Green Lea and it is still a very nice course but the new course will be a welcome addition and will be getting my business. Management at Green Lea has really gone down the tubes.
Posted by MrDerek (anonymous) on November 18, 2008 at 3:15 p.m. (Suggest removal)
Set aside the current economic conditions, and I still see this business plan biting these owners. 150 residential lots?...the City of Albert Lea issued less than 35 single-family building permits between 2001-2007 (during the low-rate housing boom). Similarly, the beautiful Somerby Golf Course in Byron set out with the same business plan. 4 miles from Rochester city limits (IBM, Mayo Clinic, etc), Somerby is losing money with several vacant lots and ever-increasing maintenance fees. Owatonna has several Fortune 1000 companies (employing thousands of white collar workers) and their scenario is: the City-owned course is paid by property taxes, the Country Club was losing money until Federated Insurance bought a majority stake in ownership, and Hidden Creek (the only course owned by individuals) is up for sale as they slip into bankruptcy. If you'd like a direct comparison, Austin is down a course and they have Hormel to carry the other course. Golf course margins are growing thin, disposable income is scarce, the housing market is almost non-existent, and Albert Lea lacks more than one major employer of middle-to-upper class workers. Kudos to Mr. Elseth for taking the initiative to draw golfers from other communities to Albert Lea with his reciprocal program. I may be an outsider looking in, but I think Green Lea is, and will continue to be, a valued asset to the Albert Lea Community.
Posted by Tank (anonymous) on November 18, 2008 at 10:35 p.m. (Suggest removal)
Mosedart, be careful what you wish for. I have noticed that alot of the same people that are playing in large groups and jumping around are the same people that used to do it when I played at ALCC. With the ownership group being ALCC folk, I can bet you will see the same. It never bothered me too bad because there was never anyone else on the course, but if the new course has as little play as ALCC, the rates will have to be above my expense account. Good luck at Wedgewood though.
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