Shop Around: Par 3 golf courses closes, sold to subdivision developer

When Tom Wingard opened StoneBridge Golf at 381 Pilgrim Church Rd. in Lexington in 2007, he hoped the par 3 golf course would be a place where young golfers and old pros could have fun honing their skills.

Earlier this year, however, Wingard sold the 20-acre golf course to Crown Communities, a D.R. Horton national subdivision developer.

"Property taxes just became too much to handle," Wingard said. "I was paying $25,000 a year on property taxes every year. Between the taxes and the maintenance it's been a struggle."

According to a source with Crown, the developer plans to build 150 houses on the property. While Wingard did not want to release the exact sales price, he did say the property went for between $45,000 to $50,000 an acre--an amount that would go toward the $800,000 he invested in the course nine years ago.

Wingard says he will still keep open The Caddy Shak driving range which he opened at the property in 2003.

"There's less land to pay taxes on and the maintenance is much easier on that," he said.

This story was originally published April 26, 2016 at 1:39 PM with the headline "Shop Around: Par 3 golf courses closes, sold to subdivision developer."