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November 26, 2013

Augusta National spends $8 million for parking lot

Posted at 6:35 PM by Mike Walker | Categories: Augusta National, Masters

Magnolialane

A view down Magnolia Lane at Augusta National Golf Club in Augusta, Ga. (Getty Images).

Augusta National might be steeped in tradition, but it is not frozen in time. In fact, the club is constantly evolving and growing, most recently through the acquisition of an apartment complex that Augusta National plans to turn into a parking lot, according to Bloomberg's Michael Buteau.

Augusta National Golf Club plans to build a parking lot at the site of a 456-unit garden apartment complex that was purchased for $8.3 million and is being razed, the club said.

The Greens on Washington Road, built in 1972, was purchased in February 2012, according to the Richmond County, Georgia, Board of Tax Assessors. By last week, it was mostly demolished. The private club, which hosts the Masters Tournament each April, plans to use the 9.8-acre site for parking and undisclosed support services, according to Augusta spokesman Steve Ethun.

“Any other commentary would be misleading and potentially create public speculation that is unnecessary,” Ethun said in an e-mail. The club declined to comment further.

The Greens on Washington Road apartment complex is less than one mile from Augusta National's main entrance on Washington Road. As Buteau reports, the club has been on a buying and construction spree under club president Billy Payne, building new parking lots, a driving range, members' cabins and the VIP hospitality facility Berckman's Place. (SI's Gary Van Sickle had a spy check out the three restaurants and replica putting greens at 90,000-square-foot Berckman's Place at this year's Masters.)

 

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