A local businessman purchased Shadow Hills Golf Club in Canon City, Colorado through an online auction on May 12, 2010. The 197-acre private course sold for $750,000 or 55 percent below the June 2009 $1,660,000 appraised value.
The new owner, Bill Holt, plans to maintain the property as a golf course.
“We are excited about the future with Shadow Hills Golf Club we know how much the property means to so many people and we see a lot of continued potential for the golf course and the facility generally, we look forward to many successful years ahead,” Holt said.
The 18-hole golf course was designed by Keith Foster and opened in 1959.
Edge Golf Group, which offers brokerage and cosulting services, oversaw the auction and has managed the property since late 2009.