Reopening in works for Escena in Palm Springs

The much-ballyhooed Jack Nicklaus-designed Escena Golf Club in Palm Springs, closed since November 2007 when co-developers Lennar Homes of California LLC and Empire Land LLC ran into the housing slowdown, may be nearing reopening.
 
The course and the remaining undeveloped residential and community elements of the Escena project recently were purchased by New Valley LLC of New York. New Valley acquired the property by purchasing the existing $20 million-plus loan out of foreclosure at a cost of approximately $1.5 million.
 
Lennar, which retains a number of constructed but unsold homes in the project, is currently working on a number of aesthetic elements of the property including landscaping, reconditioning of the golf course and construction of the clubhouse, which Lennar officials said they expect to complete by September.
 
No timetable has been set for reopening of the course, and New Valley officials have not indicated when they plan to begin construction on the remaining residential sites.     

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