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White Horse homeowners have reason to be optimistic
It’s been quite a tumultuous year for homeowners in the White Horse Development.
With Port Madison Enterprise’s Feb. 25 purchase of the bankrupt golf course and housing development, the roller coaster ride is over.
Begun by developer Bob Screen in 2003, the development stood for everything that was strong and promising in our economy. The golf course drew nationwide praise, the housing lots were selling and the future was bright. That did not last long.
When the housing bubble burst, so too, did Siren’s business plan. The lots stopped selling, driving Screen to bankruptcy to flee from his $5 million debt to American Marine Bank, which went under last month.
In the midst of crisis, the homeowners didn’t know what their future held. Unkept promises, like the unbuilt group clubhouse, hung over their heads as reminders that they’d bought into a bankrupt dream.
Now, however, they have a light at the end of the tunnel. With Port Madison Enterprises at the helm and eager to draw in tourists and the financial benefits they bring, there likely will be some major sprucing going on in a short time frame.
And with the land staying on the property tax rolls, this is a beneficial situation for everyone.
Better yet, homeowners can look to Port Madison Enterprises — a financially solvent company — and know there’s a bright future ahead.