Hastings Senior Housing

Mint Development Co gained control of over 11 acres of agricultural land adjacent to the Vermillion River and one of the most scenic bike trail systems in the Twin Cities Metro Area. Although the land has its challenges with most acreage within the 100-year floodplain, Barse has already overcome preliminary obstacles with the City to ensure the encumbered land would still be allowed in the unit density calculation and determination. Due to these efforts, Mint Development Co has secured a commitment from Headwaters Development, a reputable senior housing developer and operator, to co-develop the site.

Barse has led the entitlement process which included neighborhood informational meetings, public hearings, and presentations to the City of Hastings’ Planning Commission and City Council. Mint Development Co obtained approval for a Comprehensive Plan Amendment guiding the property to high-density residential in lieu of low density single-family residential. Additionally, the site was rezoned from agricultural land to an R-4 District.

Upon approval by the City of Hastings, Mint Development Co assigned the Purchase Agreement to Headwaters Development and retained minority ownership in the 75-unit senior housing community.