Listed by North Rock Real Estate, North Rock Real Estate LLC
Unpriced
Prairie Ridge Master Development
Details
Property Type Land
Sub Type Commercial
Acreage 30.000
Zoning R-2, R-3
Land | 30 acres
Marketing description
Prairie Ridge is an 80 acre master development with a thoughtful mix of for sale single family, for sale townhomes, build-to-rent townhomes and apartment/multifamily totaling ~1,000 housing units entitled and ready for development. Located in the heart of Rochesters growth path, this property at 50th Avenue NW and Valleyhigh Dr, Rochester, MN, 55901 offers an exciting opportunity for multifamily land investment. Zoned R-3 and with an approved EAW, the property offers development ready opportunity for multiple multifamily projects across various asset classes. Approved concept plans include 4 story multifamily, build-to-rent Townhomes and flexibility to adjust to a developers choice product totaling 900+ units throughout the Prairie Ridge Development. Initial mass grading is on schedule to commence Fall 2024 with a for sale project breaking ground on verticals construction early summer 2025.
Investment highlights
- Zoned R-3 for maximum density multi-family, with adjacent mix of R-2 and For Sale Product
- Strong rental market and growth outlook
- $5 billion expansion of Mayo Clinic underway less than 5 miles from site
- Directly adjacent to amenities and transportion
- Limited supply of utility connected and entitled land in market
Listing Contacts
Listed by North Rock Real Estate, North Rock Real Estate LLC
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