Motel developer buys land in River Prairie
Posted: April 5, 2013
TBL has learned that Prairie Lodging, LLC, has purchased a three-acre parcel from the City of Altoona in the northwest quadrant of River Prairie Drive and the Highway 53 Freeway for $550,000 to develop an 82-unit hotel on the site.
According to Dean Larsen of Acquisition Realty & Development, who handles the brokerage services for the City of Altoona in the River Prairie development, the full-service hotel will be operated by a company that develops lodging properties throughout Wisconsin.
"The State of Wisconsin requires two sets of lights and to have the infrastructure and roads completed. The city will try to complete that by late fall so construction can begin in spring or early summer of 2014," said Larsen, who also negotiated the new Kwik Trip gas/convenience store to be developed in the same area.
"I am also working with a 20,000-square-foot retailer and the other is a 100-unit multi-family development," said Larsen.
On a related note, the City of Altoona Plan Commission will be hosting a public hearing 6pm on Mon., April 8th in the council chambers to solicit input about the proposed development in the southwest quadrant of River Prairie that has been submitted by Access Commercial Real Estate. TBL