There will be two meetings on Thursday, November 9th presenting plans for the Sunset Home property. Rebound Partners, a Northfield real estate company will be holding a meeting at noon and again at 5pm to inform investors of the opportunities on the project. The meetings will take place at the Sunset Home site.
Ther are six separate properties involved in the development. They intend to repurpose the facility which was closed last fall. The Kenyon Gardens will include sixteen units in 2br/1bath and 1br/1bath configurations for market rate apartments. The Kenyon Suites will consist of four suites for the 55 and older demographic with two 2br/1bath and two 1br/1bath rentals. The Kenyon Pioneer Apartments will remodel the property into twenty-five units including studios. 2br and 1br housing. The Kenyon Inn will be five VRBO style units for extended stay rentals. The Kenyon Manor will renovate the historic home into three separate residential units. They will continue to rent the Kenyon Clinic to Northfield Clinics.
The group involves the Security State Bank of Kenyon, Profinium Bank of Owatonna, Rebound Real Estate of Northfield, G & H Properties of Faribault and NCC Builders of Northfield.
The total project is estimated to cost $6 million including the cost to acquire the property of $1.4 million. They are looking for local partners with a minimum investment of $50,000 and an anticipated annual return on investment of 13.67%.
