Donald Trump Prepares to Extend Deals on ‘One of the Greatest Golf Courses on Earth’

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Former President Donald Trump is in the midst of a presidential campaign, but the Trump empire continues to expand. The Trump Organization owns real estate around the world, from golf courses in Scotland to residences in Bali.

One of his properties where he spends a lot of time is Trump National Doral Miami, his golf course and resort in Miami, Florida. Trump held a rally at the property on July 9 and called the property one of the greatest golf courses on earth. At the time, when he was running against President Joe Biden, he challenged him to a game of golf on the property’s famed Blue Monster golf course, saying it was “considered one of the greatest tournament golf courses in the world.”

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The Real Deal reported that Trump Endeavor 12 LLC, a subsidiary of the Trump Organization, will appear before the Doral City Council to seek zoning changes for 56.4 acres of Doral resort property. In 2022, the organization sought approval for 2,200 condominium units. Last year, it received permission for 1,400 apartments – those plans called for a four-storey villa and four high-rise towers.

The new proposal calls for 1,498 residential units and about 142,000 square feet of commercial space, most of it for upscale retail and fine dining. Construction would be done in phases, with about 300 apartments in each phase. Trump-branded condo units could fetch up to $2 million per unit. Right now, according to Zillow data, the most expensive condo listed for sale is priced at $870,000.

If permits are approved, sales could begin next summer. Felix Lasarte, the project’s attorney, explained the appeal to the South Florida Business Journal: “It’s really geared toward golf enthusiasts, overseas buyers who want golf course-type amenities.”

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The story continues

Trump bought the former Doral Resort & Spa out of bankruptcy in 2012 for $150 million. At the time, the 800-acre resort had four golf courses, 700 hotel rooms, a 50,000-square-foot spa and more than 86,000 square feet of meeting space. The resort has hosted many PGA Tour events. At the time of the purchase, Trump said he would spend $150 million to update the property. “The combination of the property’s incredible location in the heart of Miami and our very significant investment in upgrading the resort will allow us to return Doral to its former glory, if not surpass it,” Trump said. “When completed, Doral will be the finest resort and golf club in the country.”

As of 2015, the Trump Organization reported spending more than $350 million on the project. Updated Red Tiger Golf Course and unveiled new practice facilities and the 24,000-square-foot Donald J. Trump Ballroom.

The Trump Doral property has been a successful investment for the Trump Organization. In April, Forbes valued the property at $273 million, noting that the property has a $150 million mortgage. Currently, the property makes most of its money through greens fees and hotel rooms, which start at $215 per night. Forbes estimated the resort brings in $100 million in revenue and $18 million in profits, based on disclosures made by Trump as part of his presidential bid. If the Trump Organization gets approval to go ahead with its condominium plans, that could increase property values, especially if the Trump Organization can command top dollar for the units.

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