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Oct 03, 2019

Buffalo News: Diamond Hawk Golf Course goes up for auction

Diamond Hawk

An article reposted from the Buffalo News.

After being on the market for sale for two years, one of the area’s newest golf courses is now going up for live auction.

The retired owner of the Diamond Hawk Golf Course & Banquet Facility in Cheektowaga is putting the 198-acre property on the block later this month through Chartwell Real Estate Auctions and Hanna Commercial Real Estate’s Cleveland office.

Located at 255 Sonwil Drive, near the Buffalo Niagara International Airport, the course was developed by real estate investor and current owner Samuel Tadio at a cost of $6.9 million.

Tadio, of Garrett LLC, had long dreamed of building a golf course, and town officials had separately talked of it on and off for about three decades. But it only got into the ground after former Town Supervisor Dennis H. Gabryszak began talking with Tadio in 2003. Planning began a year later.

It opened in May 2006 under a 40-year land lease with the Town of Cheektowaga, which was signed in 2002. The lease calls for the course to revert to town ownership at the end of the lease in 2046, but it can be extended until at least 2056.

Under the lease, Tadio paid the town $590,000 to cover the remaining debt on bonds that Cheektowaga issued to buy the property. Separately, the Erie County Industrial Development Agency approved a tax incentive package to support the project. Cheektowaga residents receive a 20 percent discount on greens fees.

Read full article on https://buffalonews.com/2019/09/17/diamond-hawk-golf-course-goes-up-for-auction/

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