The 83-year-old property was acquired by the city of Portland, Ore., and will be divided into an industrial development, park space and a nine-hole, par-three golf course and driving range.

The Portland (Ore.) City Council agreed to purchase the property in a $5 million deal, with plans to develop a park and natural area. The city plans to keep half of the property’s 18 holes running in the interim, which should generate enough revenue to pay operating expenses.