What the proposal would fund
A letter reported by The Real Deal describes a plan for Riviera Country Club in Coral Gables to offer 10 individual memberships without voting rights at $2 million each. The outlet reports that the club’s existing golf membership costs $175,000.
If all 10 memberships are sold, the plan would bring in about $20 million. As described by The Real Deal, the letter proposes placing half in an interest-generating account to help subsidize dues income, with additional funds intended for capital planning. Riviera president Francisco Grande and immediate past president Nathan Zeder signed the letter. The Real Deal reported that Zeder and the club declined to comment.
Interest and local context
The club is at 1155 Blue Road and has undergone renovation and expansion in recent years, The Real Deal reported. Its account of the letter says more than 150 people are on Riviera’s wait list and that some had expressed interest in the new offer. Applicants would still require club approval and be subject to its rules, according to the letter.
The proposal comes as another South Florida private club project moves forward. Boca Raton’s city board approved plans Tuesday for The Sanborn, an eight-story members’ club at 100 NE First Avenue expected to open in 2028, according to a PR Newswire release. Planned features include a speakeasy, cigar lounge, golf and Formula 1 simulators, a gym, a restaurant and a rooftop pool deck.
