Bank will auction Janesville land slated for large residential development
Photo by Dan Lassiter
A large residential development on Janesville's north side is going to auction. The former Kennedy Homes property will be split up an available to bidders on Nov. 11. Kyle Geissler reports.
JANESVILLE An auction will likely end plans for a 1000 home development on Janesville's north side.
Kennedy Homes presented plans in 2006 to develop 400 acres of land west of Highway 26. The company faced financial trouble.
Auctioneer Bob Johnson says there are 163 residential lots and 155 acres of farm land on the property. Only a handful of lots have homes on them. The unsold lots will be placed into groups when they're auctioned off.
Johnson says the bank is motivated to sell the land.
Some of the lots have streets and utilities installed, but most do not. Infrastructure improvements in the subdivision were paid for by Kennedy Homes.
An auction is scheduled for Nov. 11 at Lima Center Town Hall.
Some Kennedy Homes properties in Whitewater will be auctioned off on the same day.
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By GAZETTE STAFF 10/02/11