News Release
Applewood Pointe of Winona breaks ground
42-unit cooperative ownership will be complete in Summer 2009
WHAT:
Twin Cities' commercial real estate company United Properties in partnership with Saint Anne of Winona, is breaking ground on Applewood Pointe of Winona, a housing cooperative for independent adults 55 and better. Located on approximately 3 acres on East Burns Valley Road in Winona, the cooperative will feature 42 single-level, maintenance-free homes along with health and lifestyle enhancing common areas. Construction now begins with 50 percent of the homes sold. The estimated move in for owners will be early- to mid-summer of 2009. The event will include:
- Remarks from Brian Carey, senior vice president, Development, United Properties
- Remarks from Rand Gettler, administrator and CEO, Saint Anne of Winona
- Participation from reserved member of Applewood Pointe of Winona and City of Winona officials
- Groundbreaking with ceremonial dirt toss
- Renderings and visual support available electronically
WHEN:
Monday, Sept. 15, 2008
12:30 – 2 p.m.
WHERE:
Applewood Pointe of Winona Site
1420 East Burns Valley Road (County Road 105), Winona, Minn.
MORE:
The joint project presents a new housing option for seniors in the Winona River Valley area. Applewood Pointe of Winona adds homes for active independent adults, 55 and better who no longer desire the daily demands of maintaining a house yet still want to invest in real estate. The cooperative structure allows the tax benefits of home ownership, provides an affordable, low-cost alternative to renting. As the developer of Applewood Pointe, Twin-Cities based United Properties began developing cooperatives for active seniors in 2000. Applewood Pointe currently serves more than 700 residents in five cooperative communities in Bloomington, Maple Grove, New Brighton, Roseville and Woodbury, Minnesota. In addition to Applewood Pointe of Winona, United Properties plans to break ground on three other cooperative communities in 2009.
Media Contacts
Martha Nevanen
Vice President, Marketing Communications
952-893-7539
mnevanen@uproperties.com
Jessie Folkens
Sr. Communications Consultant
952-837-8516
jfolkens@uproperties.com