COLDWATER, MI (WTVB) – The Coldwater B.P.U. Board of Directors recommended to the City Council on Tuesday night that they approve a request from Coach Road Capital Partners to buy about 3.7 additional acres of the property owned by the City of Coldwater near the Willowbrook water tower.
The purchase price would remain the same at $30,000 per acre.
B.P.U. Director Jeff Budd says this would allow Coach Road to configure their development slightly different than their original proposal.
The purchase would provide Coach Road with an additional 135 feet of road frontage on Willowbrook Road.
The city still owns 50 acres to the north.
The agreement will be forwarded to the City Council for their authorization.
Coach Road Capital is buying nearly 18 acres owned by the City north of the NCG Cinemas for a proposed multi-family residential unit development. The total estimated purchase price is over $460,000.
Coach Road Capital developed the 210-unit Apartments at Sauk Trail north of Home Depot.
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