The city of Lago Vista, northwest of Austin, Texas is buying the dormant Highland Lakes Golf Course for $650,000. The golf course was appraised at $1.3 million, but the owner, HLGC, abandoned the course and has let it slowly fall apart.
The city will acquire the 120-acre, 18-hole course and the equipment required to operate it, excluding the clubhouse property. The city felt it had no choice but to acquire the course as $88 million of the city’s $640 million total property value surrounded the golf course, and no other buyer was on the horizon, according to the North Lake Travis Log.
