The Village of 亚洲天堂 Lake has sold all three of its lots near the Richmond Loop intersection with Highway 16 as part of the intersection improvement project.
The lots were purchased by a development company called Northstar Acquisitions, according to a Village representative. Northstar Acquisitions did not answer inquiries about what the properties will be used for by press deadline. No details of the sales, such as the prices the lots fetched, were available by press deadline.
The Village originally purchased the lots to meet conditions for a grant that funded the intersection upgrade project.
The $1.5 million project, funded primarily by a $1 million grant from the Rural Economic Diversification and Infrastructure Program (REDIP) and the remaining $500,000 from Northern Capital Planning Grant, aims to enhance access to new commercial properties.
To qualify for the REDIP grant, the village had to own property adjacent to the highway intersection, which is why it opted to buy a subdivided portion of a 22-acre commercial lot.
The intersection upgrade project is set to be completed this spring, weather permitting, the Village representative said.