6. Public Golf Course Performance $1.3 million $1.05 million Greens Renovation $8.5 million $7.4 million New Course $2.7 million $8.4 million High Source: From CB Richard Ellis, Inc., Golf Market Analysis (2008) Table information from Golf Course Builders Association of America $1.6 million Irrigation Renovation $5.9 million Full Renovation Low 2008 Construction Cost Estimates