A standing room only crowd of only 350 people attended the Club’s Annual Meeting on February 13th in the Island House. Highlights for calendar year 2015 included:
- Election Results:
New Board Members: Robert Nerhood, Don Romano
Returning: David Allen, Richard Marion
- Caleb Elledge, GM/COO:
“Club’s financial position continues to strengthen”;
Shade structure will be added to open deck of Pelican’s Nest to replace umbrellas;
Beach Club: Cap’n Sams Grill being relocated to pool area;
Master Plan for golf courses will begin this year with renovation and expansion of tee area of driving range by 35%;
“Gold is growing”–38 of 49 states experienced 3.4% in rounds and 2.7% in revenues;
Golf lesson revenues at the Club were up 28%.
- Joe Salvo, Broker-in-Charge, Seabrook Island Realty:
Profits up 12% over 2014;
155 properties sold; highest number in past 8 years; 6th straight year of increases;
Blended average sale price for villas, lots, and homes up to $484,000 from $417,000 in 2014;
First quarter 2016 sales trending ahead of last year;
Active listings are down to lowest level since 2007; down to one-year supply at current levels, which is in line with other sea islands including Kiawah.
- David Allen, Treasurer:
Fifth straight year of beating budget; all time high membership of 1,784;
Maintained emergency reserve target and kept combined total dues increase to less than 1%;
On track for accelerated Horizon Plan loan repayment by September 2023;
Last quarter of 2015 was exceptionally strong for real estate;
Total cash position of $3.6 million at end of 2015 was greater by $400,000 than 2014–a desirable situation as maintenance needs on facilities will continue to increase over time.