Most of the land along Silver Spring Drive between 7 & 8 Mile Road, contains a rocky subsurface and a geological makeup that was historically conducive to gravel mining. Extensive excavation operations of the area for years contributed to rolling hillsides and large low-lying areas which collected rainwater and runoff, ultimately forming two out of the three inland lakes, with the help the developers (the third, Silver Spring, was natural). When the gravel pit was abandoned in the late 1960's, Levitt Residential Communities purchased the property and proposed a site development of 1400 condominium homes. Development began in 1971, with over 300 homes built and purchased within 2 years. The building continued until 1976, finishing development somewhat short, with 691 condominiums on 167 acres, 14 phases of operation and 92 separate buildings. The first annual meeting was held in January of 1976 where the first independent Board of Directors was elected. The community was fee managed until 1982, when an experiment with self-management proved cost-effective, beneficial to the owners and led to an overall higher standard of care for "their" asset.

Highland Lakes celebrated its 40th anniversary in 2011, and is now managed by the Highland Lakes Condominium Association, comprised of a seven member Board of Directors, advised by 10+ committees staffed by resident volunteers, a Property Manager and staff to oversee day-to-day operations and a fully integrated and in-house Maintenance Department.

Throughout the years, Highland Lakes has been one of the pioneers among condominium communities for its implementation of a long-term reserve study and re-investment into its infrastructure on a massive scale. The community, to this day, through planning and preventative maintenance, boasts that it has never used special assessments; proof of capable leadership, care and volunteer work since the beginning.