Owatonna
Real Estate
Project that will provide affordable housing pushed back, still set for summer 2024 start
The city of Waseca has owned the empty lot between Waseca Junior/Senior High School and Walmart for years, and now it will finally be developed into an apartment complex. The complex, which will include affordable housing units, will contain a total of 36 units. A group of local business owners created a group called the Waseca Real Estate Fund (WREF) and partnered with fiscal agent REVocity to plan the apartment complex project. To help finance the project, WREF applied for Tax Increment Financing (TIF) from...
Kenyon council rejects proposal to add 1st floor apartments to commercial buildings
Amid concern about the potential impact on the Main Street business district, Kenyon’s City Council unanimously rejected a proposal that would have allowed apartments to be added to the rear end of first floor commercial buildings. The council’s action follows the latest recommendation of its Planning Commission, which initially expressed openness to giving downtown building owners the option to add a first floor apartment as a conditional use but turned against the idea. ...
SEMMCHRA's 2024 Program Aids First-Time Homebuyers in Dodge, Goodhue, Wabasha, and Winona Counties
The Southeastern Minnesota Multi-County Housing and Redevelopment Authority (SEMMCHRA) has issued the FTHB Information Packet 2024. This is for the 2024 Minnesota City Participation Program, targeting first-time homebuyers in Dodge, Goodhue, Wabasha, and Winona Counties. The program provides below-market interest rates for 15 or 30-year fixed rate mortgages.
Chamber Growth Breakfast highlights housing bill, local ordinances
Regardless if it’s in a small town or a metropolis, housing continues to be a problem plaguing communities throughout Minnesota. Specifically the lack of housing, and what can be done to quickly change that. During the Owatonna Chamber Growth Breakfast on Thursday, attendees had the chance to hear directly from Mark Foster, vice president of legislative and political affairs for Housing First Minnesota. Foster spoke directly about bills being proposed at the state legislature that aim to reduce the cost of housing development and options....
Study: apartments, senior living could open up housing supply
Apartments are in short supply in Rice County. In fact, they usually are all rented out before the building is even complete. The Rice County Housing Study is being updated with fresh data about the demographics, shortcomings and trends within the county’s workforce and housing market. The first draft of updates were presented by engineering and architectural firm WiDSETH Principle Planner Logan Tjossem to the Rice County Board of Commissioners during a Housing and Redevelopment Authority meeting Tuesday morning. ...
Do You Know The Story Behind This Unique Minnesota Home?
Whether you are entering or leaving Medford on County Road 45 chances are you've noticed a large white home on the East side of the road. The home looks like it is a hodgepodge of buildings put together ending with a large barn at the rear. Whenever I drive by I ask myself what was the reason all of these buildings are built and seemingly connected to each other. The answer is because that's the way it was meant to be built, as it was a popular style of home in New England where the original owner of the property was from.
Developers propose transformation of former Kenyon Senior Living campus into apartments
At its first meeting of 2024, the Kenyon City Council heard from local development firm Rebound Partners about an ambitious plan to replace the old Kenyon Senior Living campus with about 50 market rate rental units in a three-phase project for which it’s looking for community buy-in. Alongside colleagues from their firm and from Faribault’s G&H Properties, Rebound’s Brett Reese and Janna Viscomi touted the multiple successful real estate ventures their firm has put together, in sectors ranging from commercial to residential to retail to...
Limited housing 'not good for buyers,' especially first-time homebuyers
Nowadays, houses are nearly selling at the asking price. Whether the average household can afford that is up for debate. Last week Minnesota Realtors, an organization representing the state’s Realtors, released its annual report on the housing market. The report paints a difficult picture for those looking to buy a home, especially if it’s their first time doing so. Rice County Housing Director Joy Watson said the median-priced home in...
Do You Know The Story Behind This Unique Minnesota Home?
Whether you are entering or leaving Medford on County Road 45 chances are you've noticed a large white home on the East side of the road. The home looks like it is a hodgepodge of buildings put together ending with a large barn at the rear. Whenever I drive by I ask myself what was the reason all of these buildings are built and seemingly connected to each other. The answer is because that's the way it was meant to be built, as it was a popular style of home in New England where the original owner of the property was from.
Do You Know The Story Behind This Unique Minnesota Home?
Whether you are entering or leaving Medford on County Road 45 chances are you've noticed a large white home on the East side of the road. The home looks like it is a hodgepodge of buildings put together ending with a large barn at the rear. Whenever I drive by I ask myself what was the reason all of these buildings are built and seemingly connected to each other. The answer is because that's the way it was meant to be built, as it was a popular style of home in New England where the original owner of the property was from.
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