The city of Marthasville is selling an inconspicuous plot of land for $150,000 to a developer who plans to build a small cluster of new houses.
The property consists of vacant ground along Fourth …
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The city of Marthasville is selling an inconspicuous plot of land for $150,000 to a developer who plans to build a small cluster of new houses.
The property consists of vacant ground along Fourth Street and Fifth Street, which the city of Marthasville purchased years ago after a previous owner was foreclosed by the Bank of Washington, said Alderman Nick Lange. Since then, the city has been trying to sell the land for residential development.
“We picked it up for, like, $15,000, and now we’re selling it for $150,000,” commented Lange.
The land is currently platted for 10 residential properties, according to the sale contract. The property is being purchased by a Union-based company called Maritz BM LLC.
City leaders also noted that the plat for the property includes some stipulations about what types of homes can be built there. The plat calls for single-family homes that are at least 1,200 square feet, said City Attorney Mark Piontek.
“We were pretty prescriptive in the plat because we wanted to make sure that we had certain sized homes,” commented Alderman Lange.
“We were worried about the parking. We wanted all two-car garages and single-family homes,” added Mayor David Lange.
The mayor also explained that the plat for the property also calls for Fourth Street to be expanded to include a partial cul-de-sac to serve several of the houses. The developer is purchasing the property with the understanding that the city will provide that infrastructure improvement, Mayor Lange said.
“We made an agreement with him that as soon as he starts with a house on Fourth Street ... we’re obligated to do that cul-de-sac on Fourth Street,” the mayor explained.
That widening and improvement of Fourth Street is planned as part of several road projects the city is initiating using crushed rock from the site of its new well and water tank.
The closing date for sale of the property is on Dec. 2. The developer estimates that the 10 houses will be built there within about two years after that, Mayor Lange said.
Alderman Leo Meyer added that $60,000 from the sale of the property will go to the city’s Rusche Park fund, to reimburse money that was used to build a retention pond at the park. The Rusche Park fund is a pool of money that is set aside for the cost of maintaining the park and the Grabs House Museum there.
