OKOBOJI, Iowa (AP) — Plans by the new owners of an historic golf hotel on Okoboji Lake in northwestern Iowa call for the property’s buildings to be torn down to make way for private lakefront homes.

The Sioux City Journal says plans for The Inn at Okoboji were revealed Monday night at a City Council meeting. The plans would see demolition of all The Inn buildings begin next month. They also call for about 69 acres comprised of the golf course and farmland to be turned into green space and a park with paved trails that the owners would maintain.

Rapid City, South Dakota-based Whitecap LLC bought the property at auction in a $5.7 million deal that closed in December without identifying the corporation’s principals. San Francisco hedge fund manager William Duhamel and his wife, Katharine, were the only principals identified Monday night.