Developer buys Minnetonka's last farm for $6 million
- Colleen Murphy
- Staff writer-Minneapolis / St. Paul Business Journal
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A $6.22 million deal will turn Minnetonka's last family farm into a 125-unit housing development.
Ron Clark Construction and Design closed on five connected land parcels July 10, according to certificates of real estate value. The land is near the Interstate 494/394 interchange and includes 25.5 acres on Parkers Lake Road.
The Edina-based developer bought the land from the family of Don and Leona Jondahl, who began farming it six decades ago, Finance & Commerce reported. Founder Ron Clark told the newspaper he tried to purchase the land, which is the city's last available spot for new homes, for the last 15 years.
The exact plans for housing types and costs are still being determined, but condominiums will start at $400,000, twin homes will cost at least $500,000 and single family homes will start at $600,000, according to Finance & Commerce. Eight acres will be preserved as open space with walking trails.