Altoona sells another lot in River Prairie

Friday, October 30, 2015
The Bottom Line

The Altoona City Council last week sold another lot in its River Prairie development along the Highway 53 Freeway. The individual who purchased the .25 acres of land was Mark Held, owner of Held Homes in Eau Claire.

"The city council approved the sale for Mark Held's project. He will be building a 10,000-square-foot retail project and he will go up to either a two-story or three-story facility with apartments above," said Dean Larsen of Acquisition Realty & Development, who handled the land sale for the city.

The retail complex will be located directly across from the Staybridge Suites Hotel, which is currently under construction. The new building will have commercial business tenants on the main level with apartments above. Underground parking will be included in the project. The deal is expected to close in April, 2016.

The City of Altoona also purchased land adjoining the northwest quadrant of the River Prairie development from Janet and Jack Bowden. According to City of Altoona Administrator Mike Golat, the 3.16-acre parcel will help with the land development.

"That's the same piece of property that we've been trying to get for many years. It was land-locked and the city has been trying to acquire it for some time. About 1.74 acres was donated. The remaining 1.72 acres was purchased for $439,084," said Golat.

The City of Altoona is also negotiating with a group led by Paul Madsen, the owner of Rainmaster Systems in Eau Claire. He is attempting to purchase property along the Chippewa River to open a Cowboy Jack's Restaurant. Minneapolis-based Cowboy Jack's is a small chain of restaurants in Minnesota. TBL

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