Bloomington-based Doran Companies paid $10.5 million for a highly desirable 40-acre development site adjacent to The Shops at Arbor Lakes in Maple Grove. The seller was the Frances A. Seleen Trust.
Kelly Doran, owner and principal of Doran Companies, hasn't said what he'll do with the land, but said he's "eager to begin the development process but won't be in any rush to get city approvals." Whatever gets built there will likely including housing, but could have other components as well. "We'll take our time, work with the city and get it done right," Doran said in a statement.
The property is at the northeast corner of Hemlock Lane and Elm Creek Boulevard and was farmed by multiple generations of the Seleen family. The property had been sale for more than a decade (read more about that saga in a story published in early February by my colleague, Kristen Painter, about Doran's plans to buy the property) and being managed by Seleen's three grandchildren.
Opus Development Co. scuttled its plans to buy the property after facing considerable pushback from city planners.
Brenda Tuttle said the trust said the family was happy to see the land go to Doran. "Other developers have attempted to buy our property but unfortunately were unable to bring their developments to fruition."
The $10,583,569 purchase price included Doran's assumption of $3,583,569 of special assessments for infrastructure.
