One of the primary questions buyers ask today before buying into any real estate development, particularly one with a golf club affiliation, is, “What does the future look like for this community?” Obviously this is a very valid question and one that a buyer should conduct substantial due diligence on to achieve an answer to their satisfaction. It’s our opinion that there is quite a lot to be excited about with the real estate at Stone Canyon and that news is similar on the golf club side as well.
The acquisition of the club by a group led by PGA Tour star Phil Mickelson back in 2014 buoyed the club tremendously by building the existing clubhouse & gaining increased exposure through events like November 2020’s “The Match III” on TV. Summer of 2021 saw Mickelson’s group sell the club, along with a number of other Arizona courses, to Arcis Golf, which operates more than 60 clubs in over a dozen states. After the first couple years of Arcis ownership the momentum of Stone Canyon’s club remains positive. Even though it’s part of a larger portfolio, Stone Canyon is likely to get prime attention from Arcis as one of the premier clubs in their portfolio. At this point it would seem there’s plenty of reason to stay optimistic about the club’s future.
The land at Stone Canyon is simply phenomenal and it’s nearly impossible to find a comparable landscape elsewhere. Prices for homes have increased substantially and lots have also increased a bit. The price increases are largely do to the fact that inventory levels have shrunk drastically across Tucson’s luxury market. The great opportunities for low priced luxury properties seen in years past are essentially gone and potential buyers need to adjust their barometer to it being more of a Seller’s market. One of the many encouraging signs for the future of the development is the vast amount of new construction continuing to take place today. Most of these new homes being built are directly commissioned by their owners, although there continues to be a few “spec homes” on the market. Many of these are the more production to semi-custom offerings from Fairfield/One Oak.
Perhaps the most encouraging sign at Stone Canyon though is the massive influx of capital which has made its way into the community in the last handful of years. Savvy builders & investors have made significant purchases based on the inherent value of the land and the subsequent potential for future sales. With the vast majority of Stone Canyon’s homeowners being seasonal, there has existed a demand for a smaller-sized finished product that requires less maintenance and investment as a second or third home. The Enclave, Casitas, and Boulder Vistas at Stone Canyon are essentially fully developed, having met that demand and provided even larger ownership numbers at the community & club.
The sale of The Stone Canyon Club to Arcis was a bit of an unknown at first but seems to be positive. The path forward is likely not changing drastically simply by inertia and previous success at the club with its model. Arcis built a large portfolio of clubs by being successful and they understand the golf business. That should set forth a clear path for continued prosperity at Stone Canyon.
Although overall there’s excellent momentum within Stone Canyon, it’s still somewhat tempered with the requirement that all new buyers of real estate in the community must at least join the Club as Sports Members. At last check that amounts to an obligation of $5,000 as an initiation fee and $330 per month (always check with The Stone Canyon Club for current pricing), plus an annual food & beverage minimum of $600. Any barrier to entry is rarely a positive for real estate, sellers and buyers alike. On the golf membership side of things though, a recent change to the initiation fee structure announced means this amount will increase by $5,000 for each 5 new memberships sold and there might be a cap of total memberships ahead. This will ultimately make club membership more expensive further into the future and has seldom been a recipe for success long term. Golf membership dues as of 2023 were $1,185 per month and a food and beverage minimum of $1,600.
Team Woodall continues to be a resource for buyers & looks out for their interests when considering a Stone Canyon property. The golf course design at Stone Canyon by Jay Morrish has proven to be one of the best in the country as validated by Golfweek & Golf Digest rankings. Stone Canyon’s sheer natural beauty is breathtaking and will continue to captivate the senses of future homeowners and golfers as well.
Thank you for reading about Stone Canyon’s evolution over the years. For a more thorough explanation or discussion of Stone Canyon please don’t hesitate to contact Team Woodall today. Read on further for information about The Stone Canyon Club.
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