Wonder how they were able to secure funding for such a project? (Probably given to them by one of those business geniuses who came up with the concept of collaterized debt obligations that failed and precipitated this current situation).
BBH

I just figured the new owner delved into his deep pockets and financed it personally.
BUT - I believe I have the answer... Insurance Money...

AMBUSH GOLF COURSE IS TEMPORARILY CLOSED DUE TO RIO GRANDE FLOODING. WE ANTICIPATE RE-OPENING THE GOLF COURSE IN AUGUST OF 2009! ALL OTHER AREAS OF LAJITAS ARE FULLY OPEN AND AVAILABLE FOR YOU AS OUR GUEST TO ENJOY! WE APOLOGIZE FOR THIS INCONVENIENCE AND WILL UPDATE THIS SITE WITH MORE INFORMATION AS IT BECOMES AVAILABLE!
http://www.lajitas.com/Golf.htmlBut, then again. I'm sure some investors would climb on board to help build one of the best courses in America right out there in Lajitas. I just can't imagine playing gold from about June 1st until September or so. Can you imagine what it would be like out on the links during July? Plus, the home sites are probably on the books at $250,000 a lot or so. Nearby land is incredibly expensive out that way...
Did Steve Smith slip back in and doing some consulting or something on this?
The Rio Grande obviously inflicted some serious damage on the golf course, maybe Mother Nature is giving a "hint" that perhaps a golf course shouldn't be built there? I mean, what's to say that it won't flood next year, and the year after, Ad infinitum...
Casa Grande - did you do the virtual tours for them?
http://www.lajitas.com/hometxt.html