City of Redwood Falls to offer first residential lots for sale in Reflection Prairie Addition June 2

The City of Redwood Falls needs housing of all types.

In 2017, city leaders approved a new comprehensive plan which outlines that reality.

According to Redwood Falls Mayor Tom Quackenbush, recent years show the housing in the community at 97 percent occupancy, which means the options are extremely limited for anyone who is looking for a home in Redwood Falls.

Quackenbush added there are approximately 15 homes currently for sale throughout the entire community.

Recognizing that, the city opted to take matters into its own hands and began a large-scale project that would address the housing issue, and in Spring 2020 the first step of that process came to fruition when the city council approved, based on the recommendation of its housing committee, the purchase of a piece of property on the southeast edge of town near the new hospital (at the intersection of Redwood County Roads 1 and 24.

The 325-acre site is intended to address housing and commercial expansion needs for the city in a series of phases, and the first phase of that project was recently approved.

As a result, the city has initiated Phase 1 of the Reflection Prairie Addition, which includes 20 single-family residential lots and seven estate lots.

Recently, the city announced that the Redwood Falls Port Authority will begin accepting purchase agreements for those Phase 1 lots at an initial offering. That offering is scheduled for June 2 at 3 p.m. in the council chambers at city hall.

The purpose of this addition is to provide for the immediate construction of new homes.

According to the stipulations of Phase 1, lot purchasers will have 12 months from the closing to secure a building permit for the construction of a new home, with a subsequent 12-month period for the construction of a new home to be completed and a certificate of occupancy obtained.

If on the date of the offering multiple purchase agreements for the same lot are received, names will be drawn to determine the final lot purchaser.

Following the initial offering, lots will be available on a first come, first served basis as determined by the receipt date of the purchase agreement.

The single-family lots range in size from .28 to .35 acre and each comes with a cost of $34,900. The estate lots range from one acre at a cost of $54,900 to 1.5 acres at a cost of $74,900. The lot prices include all infrastructure construction costs. There are no pending assessments for infrastructure improvements.

All of the single-family lots are eligible for an early buyer discount of $5,000. The Port Authority must receive a purchase agreement and earnest money in full on or before December 31, 2022 to qualify for the discounted lot price.

No purchase agreements will be accepted prior to June 2, 2022. Each purchase agreement must be accompanied with a non-refundable check in the amount of $1,000.

Restrictive covenants will apply to all lots. These covenants are intended to ensure the nature of the construction is consistent and meets minimum design standards.

The city’s comprehensive plan indicates 40 percent of the city’s jobs are filled by people who live in the surrounding area, and “if Redwood Falls could entice even a small portion of these commuters into housing in the community, it could increase the population and overall development opportunities” stated Quackenbush.

Find additional information on the City of Redwood Falls website at redwood-falls.com.