COLDWATER, MI (WTVB) – The Coldwater City Council will be asked on Monday night to approve the introduction of an agreement to sell the remaining ten lots the city owns on Thompson Boulevard to Westview Capital, LLC, which is an affiliate of Allen Edwin Homes of Portage.
City Attorney Megan Angell says in her letter to the Council that Westview has proposed buying the lots for the purpose of building homes which they would then sell.
Angell says the company has previously constructed residential neighborhoods in Sturgis and Three Rivers and is considered to be one of the largest home builders in the State of Michigan.
Angell adds Westview wants to expand their market area and plans to construct single family residential homes in the $250,000 to $299,000 price range.
According to Angell, if Westview is successful in this initial phase, they have identified another parcel in Coldwater that they would seek to develop additional homes over time.
Under terms of the agreement, the price for the first six lots will be $20,000 each. The price for the last four lots will be $21,000 each which is the price that they are currently listed for sale.
If the agreement for the sale of City owned land is introduced Monday, the earliest that it would be permissible under the City Charter to approve the sale would be during the Council meeting on October 25.
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