A new residential development has been approved in North Mankato, with the City kicking in around 256-thousand dollars to extend the west end of Marie Lane.
The Council cleared a number of business items on Tuesday to pave way for the new Nature View Subdivision that will consist of ten lots for future high-end homes.
Officials annexed just over 25 acres of land into the City for the development and approved the preliminary and final plat for the project. The Council also entered into a development agreement that calls for the city to finance and construct an extension of Marie Lane.
The extension of the roadway won’t be assessed to the lot owners, instead City Administrator John Harrenstein says they will use residual bond proceeds from other projects that have been completed.
“So the city is actually taking an opportunity of remaining bond funds in an effort to achieve the land use goals that you have set aside for the community in the comprehensive land use plan by allocating funds in this way.”
City Officials say the roadway was never completed in the late 1980’s due to the lack of development in the area.
“This project is somewhat unique because it is a combination of reconstructing an existing street serving construction of a new portion of a road to connect with the proposed development.”
Street and utility extensions for Marie Lane will be from the intersection of Ivy Street to the east line of the proposed subdivision. The single-family residential development also includes ravine territory and a holding pond for stormwater.
The project will be bid out this spring with construction to follow this summer.