Quick Turn Project Results in New Lakefront Luxury Rental Property
WAYZATA – Dec. 19, 2019 – Inland Development Partners (IDP) announces Wayzata Bay Residence, a new luxury multi-family rental property at 358 Central Avenue, east of the Landing Hotel in Wayzata. In just two weeks, IDP converted the former condominium building to four luxury apartments and leased them.
The unique multi-family building boasts spectacular views of Lake Minnetonka and is within walking distance to historic downtown Wayzata. The former condominium building was extensively remodeled with a new roof, copper gutters, and upgraded cedar shake siding, enhancing its overall curb appeal.
The building contains four 1,300 square-foot units with two bedrooms and one-and-a-half bathrooms. Each includes a south-facing deck overlooking Lake Minnetonka and two tuck-under garage spaces.
“There’s a shortage of luxury rental properties in Wayzata so converting these condos to a multi-family rental property fulfills a market need in the community,” says Tom Shaver, IDP Partner. “We’re able to be nimble and move quickly on projects like this with the help of local partners.”
Andrew Spilseth and T. Cody Turnquist of Lakes Sotheby’s International Realty were instrumental in representing IDP in the acquisition and leasing.
Wayzata Bay Residence is the third property owned by IDP in Wayzata. IDP’s headquarters are at 100 Lake Street West at the corner of Ferndale Road. They also own the sister property at 130 Lake Street West.
For more information about IDP, please visit inlanddp.com.
About Inland Development Partners
Inland Development Partners is the culmination of the talents and track records of real estate professionals Bob Cunningham, Kent Carlson, Tom Shaver and Steve Schwanke. With a sheer enthusiasm for complex challenges, IDP transforms landscapes and communities through land development, site redevelopment and asset repositioning throughout the Twin Cities and the Upper Midwest.
