Updated: 07/26/2013 6:24 AM KSTP.com By: Joy Lim Nakrin
Minnetonka city leaders are considering changes to the real estate ordinances because some say lots there are too big.
According to Community Development Director Julie Wischnack, "before there was sewer available in Minnetonka...lot sizes had to be big enough for septic systems." More than half of the lots for single family homes are 22,000 square feet or greater, she says.
In comparison, according to the Builders Association of the Twin Cities, the average single family lot in the metro is about 9,000 square feet.
As a result, Minnetonka is too pricey for many buyers. Woody Love is a realtor with Coldwell Banker. He says, "certainly the market that we're seeing are individuals that are looking for both price and lifestyle and large lots do not necessarily accommodate those."
Wischnack says city leaders are considering changes to allow sellers to subdivide, saying that they too want to draw a wider range of residents. She says "it's about being able to be a diverse community in its housing type so that you have the resilience to deal with all economic issues that might face your community."