By Anne Holzman
The University of Minnesota Board of Regents is poised to sell the Les Bolstad Golf Course to Rachel Development, based in St. Michael. Board members reviewed the proposed sale at their June 11 meeting and were expected to formally approve it before July 1.
“We recognize the golf course holds generations of memories for our neighbors,” Gregg Goldman, the university’s executive vice president for finance and operations, told the regents. “However, given our current fiscal constraints, the university must ensure that every asset is directed in places that advance our core mission. While the course has a long history with the university, it currently supports no research activity and delivers no academic instruction.”
The sale parcel comprises about 140 acres, including 16 holes north of Larpenteur Avenue and two holes south of the road. The proposed purchase price was $30.5 million.
Materials submitted to the regents noted that high levels of mercury and arsenic have been identified on the site; there is also an irrigation system and other structures that will need to be removed. The developer will be responsible for those and other remediation expenses.
The golf course lies entirely within the city of Falcon Heights. It is currently zoned as public land, and as such, will automatically revert to single-family residential upon completion of the sale.
Since the developers will likely want denser housing and possibly some commercial space, they will need to negotiate a planned unit development (PUD) aligned with the city’s comprehensive plan. The PUD process typically includes a public hearing before the planning commission, which then recommends to the City Council whether to approve the developer’s proposal.
Under the university’s terms of sale, Rachel will have about two years to work with Falcon Heights on a development plan; ownership transfers when all parties have approved a plan and financing is in place. City Administrator Jack Linehan told the Bugle in early June, “We anticipate a 12–24-month full entitlement process on our end with many steps beyond just the master plan approval: comprehensive plan amendments, potential code changes and permit reviews, etc.” A development timeline on the city’s website projects master plan approval in summer 2027.
Rachel is a privately held real estate development company founded in 2006. It has a broad portfolio, including a recent golf course redevelopment in Cottage Grove called Mississippi Dunes, which drew strong criticism and an unsuccessful lawsuit attempting to stop the project on environmental grounds.
In 2025, following the university’s announcement of intent to sell the Bolstad property, Falcon Heights formed a committee to determine the city’s desires for development. The resulting document, Goals and Guiding Principles for Les Bolstad Golf Course, was included with the university’s request for proposals from developers and is available on the city’s website.
According to the website, “The city envisions a new neighborhood that is thoughtfully integrated with the broader community and reflects the existing character of our city.”
In recent months, the planning commission and the council have revised the city code to clarify public ownership of any land set aside in a development for public use. Falcon Heights requires that any new subdivision either set aside 8-10% (depending on the exact use) for public parks trails, or compensate by paying a fee to cover such amenities elsewhere in the city.
The council has set up a Community Advisory Committee to monitor the Bolstad golf course sale and development. The committee met for the first time on May 20 and will meet the third Wednesday of each month at 6:30 p.m. at city hall.
Anne Holzman is a Twin Cities freelance writer who covers local government for the Bugle.
