Twin Lakes undeveloped

A decline in the housing market was cited as a key reason for the abandonment of a Twin Lakes redevelopment project, along with opposition from area residents. The 80 acre complex would have included residential, retail, and office space near I35W in Roseville.The project was troubled by a citizens’ group, the Friends of Twin Lakes, who sued the city and the developers claiming the project violated the comprehensive plan for the area. The Minnesota Court of Appeals rules in favor of the residents’ group.

According to Freddie Mac mortgage rates are at a 10 month low, citing softer home prices.