St. Johns County in Florida recently made a significant acquisition by purchasing World Golf Village Inc. for $5.5 million. This purchase, approved by the County Commissioners, includes several key assets such as the Tour Production Building, the former Hall of Fame building, the IMAX Theater, and the grounds of the World Golf Village Renaissance St. Augustine Resort Convention Center and Hotel in St. Augustine, Florida. The World Golf Village Foundation Inc. will lease the Tour Production Building until March 2025 to give the production group time to relocate to TPC Sawgrass in Ponte Vedra. The IMAX Theater will remain open, and the foundation will maintain it and the common space through the property owners association until 2025.
Public funds were utilized for this purchase, with County Administrator Joy Andrews emphasizing the importance of protecting the property from potentially detrimental development. Andrews stated that the acquisition gives the community the power to shape its future, ensuring that only the best private-public partnerships are considered to enhance residential quality of life and revenue opportunities. The goal is to revitalize the World Golf Village in alignment with the community’s vision and values, exceeding expectations with strategic leveraging of public resources.
The purchase was funded by a combination of sources, including $2 million from the American Rescue Plan Act Funds, $2 million from a 2019 Capital Improvement Fund, and $1.55 million from Public Building Impact Fees. The properties acquired as part of the deal include the World Golf Hall of Fame, a multi-purpose facility, the World Golf Hall of Fame IMAX Theater, a movie theater, PGA Tour Productions office building, and the South Legacy Trail which consists of various parking lots, rights-of-way areas, landscaping, and lakes.
St. Johns County’s acquisition of World Golf Village Inc. marks a significant investment in the community’s future. By taking control of the development process, the county ensures that the World Golf Village evolves in a way that aligns with the community’s values and vision. The goal is to create a revitalized World Golf Village that not only meets but exceeds the expectations of residents and visitors alike. The strategic use of public resources is intended to drive this evolution and enable the property to thrive in the years to come.
The World Golf Village itself is a renowned destination, featuring a pond with a replica of the 17th hole of the Players Stadium Course at TPC Sawgrass. The addition of this property to St. Johns County’s portfolio presents exciting opportunities for future development and growth. With a focus on creating the best possible environment for residents and visitors, the county is committed to fostering partnerships that will enhance the quality of life and economic opportunities within the World Golf Village. This strategic acquisition showcases the county’s commitment to responsible and visionary planning for its communities.
As the World Golf Village continues to evolve under the stewardship of St. Johns County, residents can look forward to new opportunities, amenities, and experiences to enjoy. The county’s investment in this iconic destination reflects a dedication to preserving and enhancing its cultural and recreational assets for generations to come. By leveraging public resources strategically and in alignment with community values, the county is laying the groundwork for a vibrant and sustainable future for the World Golf Village. The acquisition of this property represents a bold and visionary step towards shaping a community that reflects the best interests of its residents and visitors.
