Ryland Homes acquires tax-forfeited lots in Woodbury development

Ryland Homes has acquired the 28 vacant lots in the Highland Knoll development in eastern Woodbury, paying a non-refundable deposit of $156,800 on the tax-forfeited parcels. The remaining balance of approximately $1.5 million is due at Washington County by April 23.

“This is a positive step forward for the development and for the surrounding residents,” associate planner Eric Searles said. “Most importantly, the transaction means the city will be fully reimbursed for all public dollars invested for the necessary utilities and streets.”

The property is generally located north of Oak View Drive, west of Cottage Grove Drive and south of the Eagle Valley Development.

The city is hopeful that home construction on the vacated parcels will begin in summer 2012.

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