Brief: Ryland Homes Buys Tax-Forfeited Lots in Woodbury

Ryland Homes has acquired the 28 vacant lots in the Highland Knoll development in eastern Woodbury, according to a release from the city.

The developer is paying a non-refundable deposit of $156,800 on the tax-forfeited parcels, and the remaining balance of approximately $1.5 million is due at Washington County by April 23, the release says.

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

The property after it was lost by the developer to foreclosure; the land eventually went into tax forfeiture.

Searles told Patch in February that they were the only such lots in similar situations in Woodbury of late. There is one home on the subdivision, but it was not part of the recent sale.

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, according to the release.

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