BohLand Development and Wayzata Bay Redevelopment Company have announced that they have entered into a purchase agreement to develop the condominium portion of The Promenade of Wayzata, located on the site formerly occupied by the Wayzata Bay Center.
The “Regatta” will be located above the street level of the Plaza Block as part of the mixed-use master plan and will offer luxury condominium homes for those of all ages seeking home ownership.
Wayzata Bay Redevelopment Company will retain ownership of the street level in the Plaza block and is moving forward with its plans to develop space for lease by retail shops. Wayzata Bay Redevelopment Company competitively sought a developer with a strong local reputation in developing residential real estate.
BohLand Development, owned by Steven Bohl, has over 25 years’ experience in land development and has been active in the Wayzata community for many years. BohLand has assembled a team of award-winning architects and consultants for the Regatta condominium project.
“We’re pleased that BohLand is ready to move forward with the condominium component of the project,” said John Mehrkens, master developer of The Promenade. “This follows our original plans to bring in high-quality sub-developers to build the specialized components consistent with our vision for this mixeduse development.”
The redevelopment of the site is bringing a new vitality in the community and will offer retail shops, a boutique hotel and senior housing. The convenience and character of Wayzata and its Lake Minnetonka location offers an exciting place for recreation, eating, shopping, and fun, according to Steve Bohl—owner of BohLand Development.
“The advent of the Lakefront initiative by the City of Wayzata makes this community poised to become one of the most exciting places in the metropolitan area to live,” Bohl said.
BohLand anticipates a mid-summer 2013 groundbreaking on The Regatta, with occupancy slated for late 2014 to early 2015. BohLand will begin offering the luxury for sale condominiums in January 2013 at the launch of its marketing campaign and website.
According to Wayzata Bay Redevelopment Company the first phase is on schedule with senior housing and retail currently under construction.
BohLand Development, located in downtown Wayzata, has been planning, designing, developing, managing and marketing exceptional new home communities for over 25 years. Today BohLand is a recognized leader in the development of premier neighborhoods in the western suburbs of the Twin Cities.
Since 2008, Wayzata Bay Redevelopment Company has envisioned The Promenade of Wayzata, working in close collaboration with residents, businesses and city leaders of Wayzata to realize a mixed-use community that will enhance the shore of Lake Minnetonka and the strengthen the Wayzata community.
For more information about The Promenade or to inquire about retail leasing, call 651-631-6313 or visit www.wayzatabaydevco.com.
For more information about Regatta–Wayzata Bay Residences, call 952.473.2089 or visit www.regattawayzatabay.com.