After struggling for years in the golf world, Simi Valley’s Lost Canyons is ready to try its hand in the residential real estate market.

The owners of the 1,770-acre site in north Simi Valley have taken the first steps in the city’s approval process to rezone and redevelop the two 18-hole public courses into a 364-home gated community. If their project is approved, Lost Canyons’ developers would convert one of the public courses to a private course, and the other would be removed to make room for a master-planned neighborhood.

The ambitious proposal comes after years of declining revenues for the golf courses, which opened in 2000.

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