According to Golf Digest, Augusta National is in the process of buying up land around the golf course. The goal is ultimately to build a new and better range and move the parking offsite. Rather than finding a way to get the government to "take" the property, the members of Augusta are offering homeowners some very attractive incentives to sell:
"According to public records and sources familiar with the situation, various LLCs connected to the club began purchasing homes about five years ago. In 2005 the buyers offered the seller the opportunity to stay in the home for approximately two years rent-free and to receive two lifetime badges to the Masters. Now, the LLCs are offering one year of free rent and two lifetime badges.
"In a city where real-estate prices are reasonable, families and businesses have been able to accept generous offers from the LLCs and relocate easily while still walking away with a handsome profit--and those two Masters badges. According to real estate records, one of the LLCs, Berckman Residential Properties, purchased five residential properties between Nov. 28, 2005 and Jan. 13, 2006, for a total of more than $2.4 million, or about $488,000 each. In a recent transaction, a 1,400-square-foot home at the corner of Berckmans Road and Hillside Lane, facing Augusta National, was purchased for $520,000. Such a property normally sells for approximately $100,000, according to a rental agent speaking on the condition of anonymity."
Sounds like a good deal to me. For the complete article, see golfdigest.com.