Falcon Heights passes on buying University of Minnesota golf course

The century-old University of Minnesota golf course in Falcon Heights — set to close at the end of this season — could be one of the Twin Cities metro’s most-intriguing development opportunities.

But it won’t be sold to Falcon Heights.

The land is one step closer to going on the open market after the Falcon Heights City Council passed on buying the course last week, saying the 141-acre tract will sell for more than the city can afford.

“There just isn’t really a scenario where the price is within the city’s ability to purchase,” said City Administrator Jack Linehan.

The U said in June that it would sell the Les Bolstad Golf Course in a move expected to bring a likely windfall to the university in the tens of millions of dollars.

The U said it would first offer the land to Falcon Heights, Ramsey County or the state. The school had set Friday as the deadline for Falcon Heights‘ decision.

A Ramsey County spokesman said Thursday that the county has no plans to buy the golf course and is looking to Falcon Heights to lead planning efforts for the site.

The Twin Cities real estate and development community finds the land appealing for its proximity to shopping, freeways and the downtowns of Minneapolis and St. Paul.

It’s a rare opportunity, said Mario Cocchiarella, CEO of Maplewood Development, the firm that bought 435 acres from the university in 2020 to create the Amber Fields housing development in Rosemount.

“It’s got good access, and it’s certainly an area that I would suspect people would be interested in,” he said.

Falcon Heights will still have some say in what takes place on the site, not only through zoning requirements but also via a park dedication clause in the city’s code that requires a subdivision owner to dedicate 8% to 10% of the land for green space.

But officials in the small suburb, population 4,984, with an annual budget of $3.65 million, said it will likely sell for more than Falcon Heights can afford. The city just completed its largest-ever bond sale of $2 million, Linehan said.

A housing development on the former course could set off a population boom for Falcon Heights. The city estimates as many as 1,500 housing units could go up, enough for 3,000 residents.

When Falcon Heights residents were asked in a recent survey what they would like to see happen if a large piece of land became available for development, the most popular answer was parks and trails.

About a third of residents said they wanted to see single-family housing or townhouses built.

Any developer who takes on the project will have to think carefully about the price point of the homes built on the former course, said Kris Lindahl, the real estate agent known for his ubiquitous billboards. The rising cost of materials and labor, plus volatile interest rates, will make cost the driving factor, he said.

“There are a lot more headwinds in the open market than there has been in a long time,” Lindahl said.

The sale will not include an adjacent golf practice facility used by the Gophers golf teams, the Elizabeth Lyle Robbie Soccer Stadium or the KUOM radio transmission tower, the U said in a notice sent to Falcon Heights.

The golf course is named for Gophers golfer and longtime coach Les Bolstad, who in 1926 became the youngest U.S. Public Links champion. It opened as a nine-hole course in 1916 and was expanded to 18 holes in 1929.