Lakeside Greens Golf Course Update

CHESTERMERE, AB – The City of Chestermere is releasing the key terms of its agreement to acquire the Lakeside Greens Golf Course. This follows legal review and the completion of all purchaser conditions, which now allows the City to publicly share the high-level details of the transaction.

The release of this information also marks a critical milestone in a file that began earlier this year. The course’s ownership group had confirmed their intent to permanently close operations at the end of the 2025 season. Recognizing the importance of this amenity to the community, City Council moved quickly to negotiate a purchase agreement that would protect green space, support local jobs, and preserve long-term recreational access.

Under the negotiated agreement, the City will purchase the full 127-acre site. This includes the course, associated infrastructure and equipment, and water licensing, for a total of $10 million. The cost equates to approximately $78,000 per acre, which is significantly below the current market rate for recreational land in Chestermere which ranges from $250,000 to $300,000 per acre.

Through the due diligence process, the City also confirmed that the course is operating profitably. Leasing and operational models are now being developed to ensure long-term sustainability and a financial return for the community.

This acquisition aligns with the priorities outlined in Chestermere’s 2024–2029 Strategic Plan. It reflects a broader commitment to responsible growth, accessible recreation, and protection of community character.

Key benefits of the acquisition:

• • Safeguards 127 acres of green space in the heart of the community
  • Prevents future high-density development in established neighbourhoods
  • Protects ~75 local jobs tied to course operations
  • Delivers long-term financial return through leasing and stewardship
  • Supports expanded recreational use for current and future residents

“We stepped in to protect something important to this community,” said Mayor Shannon Dean. “This isn’t just about golf. It’s about securing public land, preserving jobs, and investing in the kind of Chestermere we want our kids and grandkids to grow up in.”

With buyer conditions now fulfilled, the agreement is entering its final legal phase. This includes the course membership’s Right of First Refusal (ROFR), a standard clause that gives them the opportunity to match the City’s offer. While that process unfolds, the City will continue developing a full business and leasing plan.

This acquisition is one of several initiatives underway to enhance recreation in Chestermere. It demonstrates Council’s long-term commitment to protecting quality of life and strengthening public amenities across the community.