Time is Running Out for Running Horse

1/8/2007 (KFSN) -- The premiere golf course development planned for southwest Fresno was supposed to be sold by the middle of last month. Until the sale goes through, there will be no work on the course to get it ready for next October's PGA Tournament.

The current owner of Running Horse say the sale of his property is the biggest real estate deal ever in Fresno County, and it's for that reason it's taking much longer than expected to close escrow on the property. But everyone Action News contacted today was confident the sale would go through a week from Friday.

It's been months since any dirt has moved anywhere near Running Horse. The 48 acre parcel was supposed to be complete by now, complete with luxury homes and a spectacular golf and country club as well as home to the newest PGA tour event in October of this year.

To date, there are two holes on the golf course that are complete with grass and sprinklers. Of the 52 homes planned across the street, half are still in various stages of construction; three years after the project began.

The hold up seems to be money owed to various sub-contractors never paid and homeowners still waiting for homes. Running Horse is facing almost two dozen lawsuits in civil court. But despite on-going financial problems, many are optimistic the new owners will make the Running Horse development one of Fresno's most elite neighborhoods and it "will" be home to the newest PGA Tournament.

PGA Tour spokesman Wayne White has been paying close attention to progress of the sale because the tour may have to go on at another course. He says, "There's no reservations whatsoever, these are quality individuals.... we look forward to the partnership with them." He added, "Obviously because of all these challenges that we've been going through, we had to make sure we had a back up plan.... we believe we've got that plan in place."

Action News has learned the alternate site would be Copper River Country Club in North Fresno should Running Horse not be ready in time.

Calls to Copper River were not returned. PGA officials plan a trip to Fresno in late April or early May to check on the playability of the Running Horse golf course.

Meantime, the homeowners are waiting to hear the terms of the sale to see how much money they will get to finish their homes.

Six homeowners filed a lawsuit and have already been promised $1.5M.

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