As the lender, F&H assumed full control of the development at that time, including control of the LPOA Board of Directors requiring seats for 6 out of 9 directors. When F&H assumed control, they inherited a sizable amount of debt. Over 75 percent of Lakewood was still to be developed.…
F&H designated the East lake as a “no-wake” lake when home construction started on the lake. Prior to this, skiing had been allowed when there were fewer homes.
The drought of 2012 was so severe that many of the coves in the lake had no water and boats in the marinas were touching the bottom of the lake. The lack of water only exacerbated the impact of the seepage occurring in the Dam Spillway, which had been increasing…
Sculpted by artist Robert Guelich, another set of bronze sculptures were donated by the Garden Club. There were two deers and a buck donated to Lakewood in the green landing off Lakewood Boulevard. A ceremony was held June 12, 2020 to commemorate the donations.
Once acquired, F&H faced two major options on how to finish developing Lakewood: Option 1: Proceed with the undeveloped acreage with inexpensive homes that would produce much higher annual lot sales. Option 2: Finish the development as an upscale community. They chose this. They retained the services of…
As part of the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA), F&H was directed to sell all the undeveloped land in Lakewood, and divest itself of the Golf Club. This had to be done by December 31, 1992.
They began with 3 sculptures on the Rock, and then added two Double Dancer Wind Sculptures to create a “Wind Forest.” This is now a landmark in Lakewood which helped transform an unsightly rocky area into a popular focal point hosting events–weddings, yoga and more. LGC added landscaping and a…
The Activities Committee introduced the Lighted Boat Parade, to be held annually on the night before the 4th of July festivities. Boats gather at “The Rock” and cruise both sides of the lake as a parade to light up the night for neighbors.
These had been made available for lease to Lakewood residents, and this amenity was canceled, as the subsidy was too great (only 3 families used them).
The undeveloped land comprising the “back nine” of the golf club was sold to Don Julian and Bob Morrissey. The rest of the land was sold to either Julian and Morrissey (The Shores), Koehler Building Corp (The Forest), or Longhorn Asset Management of Dallas, Texas (East Lake Village, SouthPointe, The…
