City of Tecumseh buys course for $6.9m

The four-decade battle over residential development on Lakewood Golf Course is over in Tecumseh, Ontario, thanks to Tecumseh Mayor Gary McNamara’s recent agreement to buy the property for $6.9 million. McNamara and golf course owner David Ublansky signed the agreement June 1 and plan on closing June 25. The Town of Tecumseh is buying 65 acres of the course and preserving it for future parkland and recreational uses. The town also has a three-year option to buy an additional 24 acres of the 91-acre course for $3 million. Tecumseh is allowing the golf course owners, Sumatara Investments Limited, to complete the current season. McNamara does not know whether the property will resume in 2011 as an 18-hole course or modified nine-hole course. This story appeared in the June 21 edition of Golf Business and Real Estate. To subscribe please call (800) 421-3483