Two direct competitors in the landscaping industry are teaming up on a housing project. Dan Krueger and Al Drost have combined their efforts to form South Lake Development to build more than 40 housing units in Worthington, Minnesota.
Krueger, owner of Ideal Landscape and Design, and Drost, owner of Prairie Landscaping, are using their landscaping expertise to transform the plot of land into a residential property. They already have finished their second condominium and plan to have a third done by August. Their goal is to build 25 units on the property, according to DGlobe.
DGlobe reports that the project is partially funded by First State Bank Southwest and a low-interest loan from the Worthington Regional Economic Development Corp. Housing Challenge Fund, which was used to build up infrastructure and to install sewer and water throughout the property. The homes also received tax abatement from the Nobles Home Initiative.
The condominiums were the first project for the South Lake Development and the duo is starting work on another.
Krueger and Drost acquired Six Fairway View, a residential land located along the east side of GreatLIFE Worthington, from GreatLIFE and plan to build 16 units in total.