Real Estate Developer Shares Vision With Medford
At the recent Medford City Council meeting, real estate developer Todd Nelson of Faribault shared his vision for the Medford property known as the old football field. Nelson has plans to use the 16 acres for apartments and four plexes for those age 50 and older. There would also be nine residential lots right at the back of the Bluff View addition. Nelson has a purchase agreement with the school in regards to the football field property.
Nelson told the council he sees this as an eight to ten year investment.The first erection would be a sixteen unit building with single garages for residents. A developer's agreement still needs to be reached with the city along with soil samples and official layout. Hope is that the construction could begin as early as this fall or possibly the spring of 2020. Nelson has experience in developing rental properties in Faribault.
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