In the years following World War II, Rapid City grew rapidly and it became evident that the 9 hole Meadowbrook Golf Course, the only one in the city, was totally inadequate to meet the community's needs.
The moving force behind a new country club was Art Dahl, President of Rapid City National Bank. Although he was not a golfer, Dahl was a community builder. He felt a country club was something an up-and-coming, progressive city should have. In July 1953, Dahl and other community leaders formed Valley Investment Incorporated for the purpose of acquiring the real estate and building facilities for Arrowhead. Initially, 314 investors each paid $650 for a share in Valley Investment Incorporated. The list of investors and consequently charter members of Arrowhead were, and are, Rapid City's movers and shakers.
Later in July 1953, Valley Investment paid Mr. and Mrs. George L. Platt $68,000 for 222 acres of land and the following month contracted with Chick Adams and Ray Cusak to design and build a 9-hole golf course.
Construction on the Clubhouse began in the spring of 1954. Henry H. Hackett & Sons was the general contractor and the bids for the general electric and mechanical contracts totaled $162,000.
Arrowhead, the non-profit entity was to lease the property from Valley Investment and operate the Club, was incorporated in 1954. The first Directors' Meeting was on March 2, 1955. E.C. "Ping" Murray was the first President; Al Steinmentz, Vice President and John Boland Jr., Secretary/Treasurer. Commenting on problems which plagued the fledging Club, Murray said: "We had no liquor license, no water and no air conditioning. What a way to start a Country Club!"
In June of 1955, Arrowhead started paying $1,000 a month rent to Valley Investment for use of the buildings and grounds and that summer the golf course was opened for play. The first foursome to tee off consisted of Gordon White, Mort Wilkins, Milo Brekhus and Chris Hogan, who lost his wife in the 1972 Rapid City flood.
For many years the Hillsdilly Member-Guest Tournament, originated in 1956, was the highlight of the golf and social season. Guests came from all over the country to play with their Arrowhead member hosts. The popularity of the Hillsdilly eventually faded and the Prairie States-Arrowhead Pro-Am started in 1966, replaced it as the premier golf event at Arrowhead.
In November 1979, Arrowhead purchased the land, buildings and improvements from Valley Investment for $333,500. Those Valley Investment Stockholders who still held shares received their original $650 investment plus $77, a small return on money they had tied up for 20 years. But they hadn't planned on making money. They considered their investment a contribution toward community development and betterment. The Arrowhead members of today owe them a debt of gratitude for founding what has become one of the finest Country Clubs in the region.