Highland Knoll auction attracts bidders, but no takersAn empty Woodbury development will remain that way despite the presence of interested developers and builders at an auction Wednesday.
An empty Woodbury development will remain that way despite the presence of interested developers and builders at an auction Wednesday.
Woodbury City Planner Eric Searles said there were a number of registered bidders at the Highland Knoll auction this afternoon, but none of them submitted a bid.
The tax forfeited development, which includes a total of 28 single family lots located south of the Eagle Valley neighborhood and west of Cottage Grove Drive, has a minimum price tag of $1.5 million.
Although city and Washington County officials were optimistic about the auction, it only lasted about one minute before it closed.
However, Searles said a number of interested parties have contacted the city following the auction to inquire about the development.
“The city remains confident that a transaction will occur in the near term,” Searles said.
Now that the auction is over, an interested buyer would have to fork over the minimum price of $1,568,000 to Washington County.
“Whether or not it sells at auction or after the auction, we’re still confident that it will sell,” Searles said.