More houses planned for Woodland Hills in West Des Moines
Wednesday, June 26, 2013 3:18 PM
Minnesota-based Oppidan Investment Co. appears poised to remove the final piece of bank-owned property from a West Des Moines development and put it in the hands of home builders. Oppidan has amended a development agreement for its Woodland Hills project, formerly called Michael's Landing, to build 55 houses on 18 acres that Bankers Trust Co. has owned since foreclosing on a loan to a former arm of the shuttered Regency development companies. Bankers Trust was among four banks that foreclosed on loans for the project. As part of the amended agreement, Oppidan will build an extension of 93rd Street, receive up to $750,000 in property tax rebates and give the city $250,000 for a park. Oppidan could close the deal with Bankers Trust in April 2014. Read a related story.