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'World-Class' Golf facility planned for Pulaski county. (Inside Business).

The Alotian Club LLC has bought 875 acres in western Pulaski County for development of what the seller described as "a world-class golf facility."

The investment group paid Deltic Timber Corp. $2,500 per acre in the $2.2 million deal, according to a Deltic news release.

Arkansasbusiness.com reported Oct. 11 that Warren Stephens, CEO of Stephens Inc., was working on a major golf project in western Pulaski County. Neither Deltic Timber nor a Stephens spokesman would confirm that he is the lead investor in The Alotian Club.

Sources said in October that preliminary cost estimates for the development are more than $15 million for golf and dining facilities. Talk of membership fees of more than $100,000 has given the pre-drawing-board development an exclusive aura, but the actual fee structure of the club has not been established.

Stephens and his father, Jackson T. Stephens, are members of the exclusive Augusta National Golf Club in Augusta, Ga. Jack Stephens is a former chairman of Augusta.

"We continue to believe that Deltic's total undeveloped land holdings of over 55,000 acres in the Highway 10 corridor represent significant long-term value for our shareholders," said Robert C. Nolan, chairman of Deltic Timber.
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Title Annotation:Alotian Club LLC
Comment:'World-Class' Golf facility planned for Pulaski county. (Inside Business).(Alotian Club LLC )
Author:Turner, Lance
Publication:Arkansas Business
Article Type:Brief Article
Geographic Code:1USA
Date:Jan 7, 2002
Words:201
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