Lansing (WILX) The City of Lansing has accepted a $5.8 million offer for the former Waverly Golf Course.
"The offer exceeded our expectations for the property and the new revenues will be a tremendous benefit to the city and to our residents," Mayor Virg Benero said.
The mayor also said, "the proceeds from this sale will allow us to make new investments in our parks and recreation facilities, as well as setting some money aside for a rainy day."
The buyer is Schostak Brothers & Company, a Livonia-base real estate developer.
The company plans to build a residential and retail development, however, that could change.
The deal is expected to be filed with the City Clerk on Friday and won't be final until the city council approves it followed by a 180-day period of due diligence.