South Street Partners, a prominent private equity real estate firm with headquarters in Charlotte, North Carolina, and Charleston, South Carolina, has emerged as a significant force in the high-end residential golf market. Their strategic investments and developments are not only capitalizing on the resurgence of golf’s popularity but are also redefining the landscape of luxury living and recreational real estate, particularly in South Carolina and across the Southeast.
Founded on a vision of creating exceptional lifestyle communities, South Street Partners has expertly tapped into the evolving preferences of modern homeowners. The post-pandemic shift has seen a notable increase in demand for both golf experiences and residential properties in amenity-rich locations. South Street Partners has skillfully positioned itself at the intersection of these trends, driving growth through innovative community development and strategic acquisitions.
South Street Partners’ Portfolio: A Testament to Luxury and Golf Excellence
The portfolio of South Street Partners showcases a collection of prestigious golf and residential communities that exemplify luxury, exclusivity, and a deep appreciation for the game of golf. Among their most notable properties are:
- Kiawah Island Club: An iconic destination in South Carolina, Kiawah Island Club is a hallmark of South Street Partners’ commitment to creating world-class golf experiences. Featuring multiple championship golf courses, including the renowned Ocean Course, Kiawah Island offers an unparalleled blend of natural beauty and sporting excellence. South Street’s investment includes private club facilities with Tom Fazio and Tom Watson designed courses, and an upcoming course by Beau Welling, further enhancing its appeal to discerning golfers and residents.
- Palmetto Bluff: Located in the South Carolina Lowcountry, Palmetto Bluff is a sprawling community that embodies Southern charm and outdoor lifestyle. South Street Partners has continued to elevate Palmetto Bluff with the addition of the innovative Crossroads 9-hole reversible golf course designed by King and Collins, and a forthcoming 18-hole championship course by Coore and Crenshaw. This expansion solidifies Palmetto Bluff as a premier golf destination, complementing its existing May River Golf Course.
- The Cliffs: Spanning across the Blue Ridge Mountains in North Carolina and South Carolina, The Cliffs communities offer a diverse collection of luxury homes and golf courses. South Street Partners’ involvement ensures the continued development and enhancement of these already impressive communities, known for their scenic beauty and challenging golf layouts, such as the Tom Fazio-designed course at The Cliffs at Keowee Vineyards.
- King and Prince Beach & Golf Resort: Situated on St. Simons Island, Georgia, this historic resort is another example of South Street Partners’ strategic acquisitions. The King and Prince offers a blend of beachfront luxury and a classic golf experience, appealing to both vacationers and potential residents.
- Barnsley Resort: Nestled in Adairsville, Georgia, Barnsley Resort provides a unique retreat with a Jim Fazio-designed golf course set within a historic and picturesque landscape. South Street Partners has further enhanced this destination, maintaining its commitment to high-quality golf and resort experiences.
- Naples Grande Beach Resort: Located in Naples, Florida, this resort features a Rees Jones-designed golf course and exemplifies South Street Partners’ reach into prime golf destinations beyond South Carolina.
The Strategic Importance of Golf in South Street Partners’ Vision
For South Street Partners, golf is more than just an amenity; it is a cornerstone of their community development strategy and a significant driver of value. Rob Duckett, President of Operations at South Street Partners, emphasizes this point: “Golf is one of our major, major amenities. One of our greatest assets is providing a quality golf experience because the people who play golf at this level fit our profile of real estate buyers and who want to live in communities like ours. So, that marriage between the golfer and the products that we sell outside of the club, i.e. real estate, are a great match.”
This strategic alignment is particularly potent in the current market. The National Golf Foundation reports a significant trend where 42% of golf course projects in planning or construction include a real estate component. This is notably higher than the existing percentage of golf facilities tied to residential communities, highlighting the growing synergy between golf and real estate. South Carolina, where South Street Partners has a strong presence, is a key state in this trend, boasting over 100 golf-related real estate developments, second only to Florida in the Southeast.
Duckett further notes South Carolina’s appeal: “Obviously Florida is one state that a lot of the rest of the U.S. is gravitating towards, but right behind Florida is South Carolina. South Carolina has always been a sleeper when it comes to the golf industry. This is a good time to be in the golf business in the state of South Carolina.”
Capitalizing on the “Safe Haven Community” Trend
Beyond the inherent appeal of golf, South Street Partners is also benefiting from a broader societal shift towards “safe-haven communities.” The desire for secure, amenity-rich environments has intensified, and communities like Kiawah Island and Palmetto Bluff perfectly cater to this demand.
Duckett’s survey data from Palmetto Bluff illustrates this trend vividly. Full-time residency in Palmetto Bluff has surged from 30-40% five years ago to over 51% recently. This dramatic increase reflects a significant migration towards these communities, accelerated by the pandemic. While travel has resumed, many individuals have made a permanent shift towards full-time living in these desirable locations.
This increased demand, driven by both lifestyle preferences and the desire for community, necessitates the expansion of amenities, particularly golf. South Street Partners is proactively responding by developing new courses and enhancing existing facilities to meet the evolving needs of their residents and club members.
Future Golf Developments: Expanding the Experience
South Street Partners is committed to continually enhancing the golf experience at their properties. Recent and upcoming developments include:
- Crossroads at Palmetto Bluff: This newly opened 9-hole reversible course offers a unique and versatile golf experience, designed by the acclaimed King-Collins team. Located near The Grove neighborhood, it adds a distinct dimension to Palmetto Bluff’s golf offerings.
- Coore-Crenshaw Course at Palmetto Bluff (Upcoming): This highly anticipated 18-hole championship course will further elevate Palmetto Bluff’s status as a premier golf destination. Designed by renowned architects Coore and Crenshaw, the course will feature diverse landscapes, from forests to wetlands, and offer views towards Savannah.
- Beau Welling Course at Kiawah Island Club (Upcoming): Adding to Kiawah Island Club’s already impressive golf lineup, this new 18-hole course from Beau Welling will provide another exceptional playing experience for club members.
Beyond Golf: A Holistic Lifestyle Approach
While golf is central to South Street Partners’ strategy, they understand the importance of offering a diverse range of amenities and experiences. Their communities are designed to cater to a wide array of interests, including shooting, equestrian activities, water sports, and paddle sports.
Rob Duckett explains this holistic approach: “When folks spend time at their residence, (we want them) to have the opportunity to try new things that they never thought they would get a chance to try. Our clubs are based on experiences, and the more experiences we can offer, the better off and the more attractive we are to our members and our future members.”
By focusing on providing a rich tapestry of experiences, with golf as a centerpiece, South Street Partners, headquartered in Charlotte, is creating communities that resonate with the desires of today’s discerning homeowners and solidify their position as leaders in the luxury golf and residential real estate market.
