PINE ISLAND, Minn. -- The Prairie Island Indian Community has purchased a portion of vacant land near Pine Island as part of ongoing efforts to expand away from Prairie Island nuclear plant.
The sale was finalized late last month from Tower Investments LLC. The California-based real estate and development company owns around 1,900 acres along Highway 52 formerly called Elk Run. The commercial and residential development has since been renamed Tower Pine Island.
It is too early yet to announce plans for the newly purchased land, Prairie Island Indian Community said in a statement Wednesday, Jan. 2. No financial details of the sale were disclosed.
According to the statement:
“What we can say is that it is our intention to be a good neighbor, and in that spirit, we are in the process of meeting with representatives from local units of government to talk about the purchase and introduce the Prairie Island Indian Community.”
Development of the Elk Run land at one time called for a biotechnology business park, but the plan never panned out.
A Tower Investments executive deferred comments on the sale to Prairie Island Indian Community.