Hot property: Lakeside 7th Addition
- Article by: Don Jacobson
- Special to the Star Tribune
- October 5, 2012 - 6:45 AM
Lakeside 7th Addition Lake Riley Drive south of Hwy. 212, Chanhassen
Type: Townhomes Units: 17 Site size: 3.54 acres Developer: Ron Clark Construction & Design
Details: The last remaining parcels of vacant land in the upscale Lakeside townhome development in Chanhassen have been approved for construction, but with a change in plans.
When first proposed by Sienna Corp. in 2006 as a multifamily adjunct to its gated Bearpath Golf and Country Club community in Eden Prairie, the Lakeside neighborhood was to include townhomes as well as a trio of condominium buildings containing a total of 169 units. But the collapse of the housing market in 2009 resulted in Home Federal Savings Bank of Rochester obtaining the 26-acre site in a foreclosure sale after Sienna had completed just two sets of townhomes.
Since then, Edina-based Ron Clark Construction & Design has entered the picture. In 2010 it built 22 twinhomes on a pair of parcels that were originally set aside for two of the condo buildings.
Now, under a planned unit development amendment approved by the Chanhassen City Council last month, Clark also replaced plans for the final condo building on "outlot D," just south of Hwy. 212 along Lake Riley. In its place will rise 17 more townhouse/twinhome units, finishing out the project with a total of 103 units.
Mike Roebuck, vice president at Ron Clark Construction & Design, said the "empty-nester" market for luxury suburban townhomes is returning after being absent for several years, when potential buyers were unable to sell existing homes.
"The first two sets of twinhomes we built there have sold well, and now we're looking forward to closing out the development with a third property," he said. "We'll have two different product types, going from the $400,000s up to the golf course units, which will be in the $700,000 to $800,000 range."
The new Lakeview units will range from 1,800 to 2,500 square feet, featuring "prairie style" architecture with earth-toned exterior colors.
Don Jacobson is a St. Paul freelance writer. He can be contacted at firstname.lastname@example.org.
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