Eden Prairie residents fret about new $300,000 homes ruining their neighborhood
|File this one under "First World Problems."|
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But neighbors are objecting to the "green mid-market development" because they're concerned homes in that price range will ruin their property values.
One of those concerns was detailed in a Star Tribune report from September:
"Do I think there needs to be lower-level housing out there? No. Eden Prairie is known for having money here," said Jan Beck, whose back yard faces what is now a grassy field with deer and some trees. "It's too bad. There's no more prairie left in Eden Prairie."So at a community meeting last week, Homestead Partners representatives had to assure worried neighbors that brand new $300,000 environmentally friendly homes won't result in the end of suburbia as they know it.
Sun Newspapers explains:
Neighboring residents expressed concerns about high-density housing and home values consistently below that of neighboring properties. While the development will contain higher density than that of the neighboring areas, the values will likely be at the top of the mid-market range, according to the developers.Does that last quote mean Homestead will pre-screen potential buyers in the new development to make sure they're as snobby as possible?
"We will be on upper end of the range for these houses, with the market demand and cost to purchase the property," Stephen Bona, vice president of development at Homestead Partners said... "Our goal is to have a community that would fit with the neighborhood next door."
h/t -- Minneapolis/St. Paul Business Journal
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