The City of Chestermere has finalized an arrangement to buy the community’s only golf course — a deal it says will block any future high-density redevelopment of the site.
The city closed the deal on Oct. 1 to purchase the Lakeside Golf Club for $10 million.
Five years ago, an agreement was reached with international developer and builder Slokker Homes to redevelop the 51-hectare property after a study by an accounting firm concluded the course was “not economically viable” going forward. The report said the course ran a $104,515 deficit in 2019.
The owners also said at the time that the course needed several upgrades, including to its clubhouse and retaining walls, which would cost nearly $600,000 per year for five years.
Earlier this year, the golf course’s ownership group informed the city that it planned to cease operations, the municipality said in a release.
“In response, council took swift action to secure the site as a publicly owned amenity, one that protects green space, preserves local jobs and provides long-term recreational value for all residents,” the release said.
Darby King-Maillot with the Lakeside Greens Golf Course Preservation Society, a community group that worked to save the course, called the city’s purchase an “absolute relief” that will result in a better green.
The city says its $10-million purchase of the golf course protects and expands public recreation in Chestermere. (Lakeside Greens Golf Course Preservation Society)
“We hope it’s actually better and improved, because in the last five years, well, the owners were preparing for development. They definitely let the course become run down,” King-Maillot said.
“They didn’t reinvest in the course; they didn’t maintain their course. And so we’re looking forward to brighter days ahead where, you know, people can get invested and engaged and improve the course back to the quality that it used to be.”
The money to purchase the course will come from a combination of municipal debt and existing city reserves, the municipality said.
Mayor Shannon Dean said it’s about more than golf.
“It is about safeguarding public land, protecting the character of our neighbourhoods, and making smart investments in Chestermere’s future. Our residents have asked for better recreation, and today we are delivering,” he said.
The city said the agreement will preserve 75 local jobs, and the purchase will not result in tax increases. The release also said officials had done due diligence to ensure the business can be made profitable.
