The slightly renamed The Golf Club at Black Rock has been given new vitality following a purchase of its assets late last year by a company formed by 10 homeowners in the luxury golf community above Lake Coeur d'Alene, says Greg Rowley, the new membership and marketing director there.

"We've got a group of people who really want to be here," and who were willing to provide the capital needed to resurrect the private club after developer Marshall Chesrown surrendered the property to a Washington Trust Bank holding company, Rowley says. The purchase included the golf course, clubhouse, beach club, and related facilities.

"It's a pretty unique story really in the golf industry," he asserts, noting that roughly two-thirds of the 230 or so members of the former club there have joined the new club.

The financial infusion has enabled the club, which is scheduled to open the golf course Saturday, to buy a fleet of 90 new golf carts and all new maintenance equipment, Rowley says. "We're in an incredibly stable position," he says.

The restructuring means that members at Black Rock no longer will be required to own property in the adjoining, partially completed 382-homesite community, "which takes away a pretty substantial hurdle," Rowley says. Also, unlike many other private golf clubs where members must buy stock, members at the new Black Rock club instead pay a deposit that's up to 100 percent refundable over time, he says.

Golf Digest magazine last month ranked The Golf Club at Black Rock 42nd on a list of America's top 100 courses.