Downtown St. Cloud Lofts Developer Wants To Buy the Property for $1 [AUDIO]
ST. CLOUD - A plan to bring a new condominium building to downtown St. Cloud continues to move forward. The spokesman for Makenda LLC, Rod Lindquist, met with the St. Cloud Economic Development Authority yesterday (Tuesday).
The EDA owns the former Dan Marsh site where the proposed project is scheduled to be built. EDA Director Cathy Mehelich says the developers are asking to buy the property for $1.
The developers also want to mitigate their up-front costs, because this type of living concept hasn't been done before in downtown St. Cloud. The city and the EDA have working on selling the Dan Marsh site to a developer for over 20 years. Mehelich says they're looking at whether it makes sense to sell it for $1.
The lofts would include 37 one-bedroom units and seven two-bedroom units on six floors.
The EDA Board is expected to hold a public hearing on the sale of the property in the next few weeks. The developers are hoping to break ground within the next couple of months.