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REDEVELOPMENT OPPORTUNITY LAND SALE OPTIONS -' �.x-:., r,.•r Vr,.- ,. � w+cs�Mi1�'�N_..'''u�'!kswr+rr!�"wahw - PRIME DEVELOPMENT LAND DOWNTOWN HUGO Forest Boulevard (TH 61) on 4.3 acres Hugo, Minnesota 55038 PROPERTY • zoning: Central Business (C-1), allowing for multiple commercial uses. HIGHLIGHTS • A market study has been recently completed s ,� for the downtown area. .= ; • Located within a Tax Increment Financing (TIF) District. • Approved redevelopment plans for a restaurant use on a portion of the property. • Price of property can be reduced when D5 development criteria is met. a • The property is owned by the City of Hugo. • A market study has been recently completed s ,� for the downtown area. .= ; • Located within a Tax Increment Financing (TIF) District. • Approved redevelopment plans for a restaurant use on a portion of the property. • Price of property can be reduced when development criteria is met. • The property is owned by the City of Hugo. • Downtown Plan and Design Guidelines apply to development in this area. The property is located in the heart of the City of Hugo and offers a wide array of opportunities for any buyer. With over 650 feet of lakeshore frontage, this beautiful property is great for a mixed used development with a restaurant/entertainment use, as well as, commercial, boutique retail, office, and housing. This property could become the centerpiece for the downtown business district in the City of Hugo. A survey of the property is available upon request. CITY OF The property is within minutes of the newly redesigned freeway interchange at 135E (ADTV 86,900) and BLUIGOCounty Rd 14/8 (ADTV 13,900). Highway 61 (ADTV 14,100) has been recently resurfaced and a turn lane has - EST. 1906 been constructed to access the property. The property is generally flat with very high visibility located on Highway 61.