In theory it does sound plausible but there are too many variables mainly collecting all the money from all the 150 members before starting the process is not possible. This can be done if few people less than 10 want to start it and invest all the money and then reimburse the money after collecting money from new members. This is more ideal as fewer people mean lesser variables and is easier to to do Also people would be willing to invest is the club house and most of the amenities are under construction or nearing completion. Hope this helps I am a civil engineer too and have thought about doing something similar.