Ground will be broken this spring — heck, it already seems like spring! — for a high-end 52-home development in Eden Prairie called Eden Prairie Woods.

Of all the planning commission minutes and agendas I receive, this one from Eden Prairie caught my eye.

First, it's being built by Toll Brothers, the national developer that specializes in luxury homes based outside of Philadelphia. And, the home prices will range from $600,000 to the mid-$700,000 mark (and beyond, if customized).

Apparently, there's a market out there for this kind of luxury, even in a down economy, according to real estate experts.

Earlier this week, the Eden Prairie Planning Commission approved the project, which is slated for a 72-acre lot off Eden Prairie Road near Beverly Drive and overlooking Riley Creek. Only 24 acres will be developed. The plan also calls for a pool, a pool house and a tot lot.

As Toll Brothers' division vice president Alex Martin says, Eden Prairie is a locational sweet spot for residential development, due to the proximity of major highways, parks, good schools and other amenities. "The thing I like about living here is that I don't have to go far to find great amenities," he said.
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Janet Moore covers commercial real estate for the Star Tribune.