United Properties has purchased 24 acres of farmland in Eagan that it plans to convert into a sprawling development for apartments, senior housing, a hotel and retail.
United paid a little more than $5.5 million for the land located on Yankee Doodle Road between Coachman Road and Central Parkway, according to an electronic certificate of real estate value made public last week.
Last September, United requested that the city rezone the area to allow for the planned development.
Preliminary plans were for the development to include a 128-room Residence Inn, senior housing, an apartment complex, and retail such as a possible grocery store.
United purchased the property from a number of sellers and combined the lots.