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Monday, January 24, 2022

Watershed Area Completes Forest Lake Acqua Building Review

This week, Comfort Lake Forest Lake Watershead County officials decided not to promote the purchase of the former Acqua Restaurant building in Forest Lake for office space.

The watershed board voted 5-0 this week to end the investigation and review of the property after the score was higher than expected, officials said.

Many residents have complained about the potential purchase of the 7,100-square-foot building, which is up for sale for $ 2.1 million. The building, empty since the fall of 2019, is located on the northern shore of the Second Lake of the Forest Lake. It boasts over 500 feet of lakeside and 20 boat docks.

Jackie Anderson, chairman of the watershed district council, said district officials had begun investigating the property, believing the recession and the COVID-19 pandemic may have affected its value.

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“It’s not, and the assessment is very clear,” she said.

The price was not disclosed, citing data confidentiality.

“The board’s initial decision to conduct this review was based on the site’s recent history and broader considerations that property values ​​could be significantly more beneficial than the list price,” administrator Mike Kinney wrote in a memo. “In this regard, Valbridge Property Advisors’ assessment report makes the following assessment:“ Constraints on the COVID-19 pandemic are loosened, vaccines are available, but variants of the virus have already begun to spread. However, as of the valuation date, this new surge in infections does not appear to have a negative impact on the outlook for the real estate market. Therefore, in our value judgment, we made no deductions for the cost of the COVID-19 pandemic. ”

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