Just Listed brings you the latest news and information from the Twin Cities-area commercial and residential real estate market and beyond from veteran reporters Jim Buchta and Janet Moore.

Developer gets approval to revive once-stalled housing development in far-flung Otsego

Posted by: Jim Buchta under Buying Updated: October 14, 2013 - 2:00 PM

In a sign of changing fortunes for the once-beleaguered exurbs, Meridian Land Co. received approval from the city of Otsego to revive a portion of a once-stalled housing development called Wildflower Meadows. The group will complete 28 single-family lots, which it will sell to Key Land Homes and Morning Sun Homes for construction of single-family homes. Meridian also plans to sell five finished lots to the builders

The project is near the intersection of Hwy. 101 and 70th Street Northeast in Otsego, an exurban community that suffered mightily during the housing crash.

Meridian acquired the develompent in late 2010 after the project hit the skids in 2009. Plans originally called for subdivision into 254 lots, but it was among 10 subdivisions that were liquidated when its owner, Rottlund Homes, succumbed to the housing downturn and went out of business.

The builders hope to have model homes in that development ready for the Parade of Homes Spring Preview.


 

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