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Population growth in Mankato has been strong and new housing development has been well-received in the market. We anticipate that growth in Mankato could exceed our projected growth over the long-term depending on the ability to place a variety of new housing products into the market and provided employment remains strong.
Demographically, most of the growth in Mankato and the Market area is within the older adult cohorts (led by Baby Boomers) and from older Millennials and GenXs in their 40's and early 50's. Many of these householders desire alternate housing products that while offered in the market, a greater variety of housing options need to be available to satisfy a broader range of income and market segments.
-2025 Housing Study Needs and Analysis. Provided by Maxfield Research and Consulting.
Aveyda Preserve offers a total of 122 residential homes. The North Block consists of 34 Slab-on-grade Style Single Family homes of which fifty percent offer pond and nature views. The South block consists of 54 Slab-on-grade Style Single Family homes and 34 Slab-on-grade Style Single Family Attached homes.
The Developer is sensitive to maintaining a high quality & aesthetically pleasing environment and intends to maintain the property in the development with a high quality of standards to enhance the neighborhood and community of Mankato.
The Planned Unit Development will be accessed from Hoffman Road which is a dedicated public road to the City of Mankato. The private drives will remain private and be maintained by the Owner's and/or Association.
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2.59 acre
C-Store Site
$1.5 Block 1 Lot 1
$13.30/SF
Zoned B3
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3.04 acre Mixed Use
$2.0 Block 1 Lot 2
$15.10/SF
Zoned B3
Mixed Use up to 61 residential units
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19.03 acre OR
Call for Price
Capable for commercial, retail and
up to 610 apartment units.
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Residential Single Family
Detached Site
Zoned R2
Block 3 Lot 1
Approved for up to 54 detached units.
1730-3460 SF
and 34 attached units (no rental density rules apply)
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Residential Single Family
Detached Site.
Zoned R2
(no rental density rules apply)
Block 3 Lot 1
Approved for up to 34 units.
Water and Nature Views
2100-4200 SF
Location
East of Hoffman Road & CSAH 12
Close to: Home Depot, Menards, Fleet Farm, Scheels, Target, Hyvee, Crumble Cookies, Cub Food, Aldi, Sam’s Club, Walmart, Minnesota Department of Transportation, Generations Day Care & Memory Care, Bethany Lutheran College, Minnesota State University, Mayo Clinic Health System, Mankato Clinic
Builder / Investor Opportunity
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Aveyda Preserve is a thoughtfully planned residential development in Mankato, targeting one of the market’s most undersupplied segments: luxury, low-maintenance villa living. Designed for efficiency and absorption, this project offers builders the ability to deliver a repeatable, high-margin product aligned with strong demographic demand.
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Townhomes/Detached Townhomes/Twin Homes/Condominiums
Entry-level <$280,000
# of Units: 250- 300
DEV. time frame 2025+
Move-up $300K to $400K
# of Units: 150- 200
Dev. time frame 2025+
Executive $450,000+
# of Units: 50- 60
Dev. time frame 2025+
Subtotal 450- 560
NORTH
Target Market for North Side Detached Homes
$600K–$800K New Construction Segment
~15–20 qualified buyers annually
- Underserved niche with limited competing inventory
Core Buyer Profile
- Empty nesters / downsizers
- Move-up buyers seeking lifestyle upgrade
- Preference for single-level or simplified living
- Strong demand for “lock-and-leave” convenience
Product Strategy
- Villa / patio homes
- Approx. 1,800–2,200 finished sq ft
- HOA-managed, low-maintenance living
- Design-forward, cohesive neighborhood aesthetic
Absorption & Scale
- 6–10 homes/year is Conservative, highly achievable
- 10–15 homes/year is Realistic with aligned builder execution
- Opportunity to phase construction and match supply with demand
- Ideal for builders seeking controlled, predictable growth
Competitive Advantage - Aveyda Perserve is positioned to outperform by offering:
- Premium setting with strong visual identity
- Closer proximity to amenities vs. competing developments
- Set back from State Highway 22 (reduced noise,
improved setting)
- Lower association fees than comparable communities
- True luxury “lock-and-go” lifestyle without over-customization
Builder Economics (Illustrative)
- Target retail: $600K–$800K
- Efficient, reputable plans reduce building time and cost variability
Margin supported by:
o Limited competition in segment
o Strong buyer profile with equity purchasing power
o Premium positioning without ultra-custom complexity
Why It Works
- Defined and proven buyer pool
- Supply-constrained price segment
- Scalable, repeatable product
- Strong lifestyle-driven demand
- Builder-friendly execution model
North
R2-BLOCK TWO
LIST PRICE ACRES DIMS LOT SQ FT DWELL FND SZ LOT QTY
LIGHT BLUE $110,000.00 0.215 72 X 130 9360 2100 9
ROYAL BLUE $ 99,000.00 0.215 72 X 130 9360 7
PURPLE $130,000.00 0.215 72 X 130 9360 18
AVERAGE $113,000.00 AVG 34
C-Store Opportunities Also Available
SOUTH
Positioned in a desirable south side location, these slab-on-grade homes are approximately 1,700 square feet of efficient, single-level living paired with oversized garages. An ideal combination for strong rental and resale appeal.
With flexible finish levels, projected values range from the low $400s to the mid $600s, with a proven pricing sweet spot in the $460K–$480K range and consistent demand under $530K.
A compelling blend of modern design, broad market appeal, and attractive return potential.
South
BLOCK ONE
LIST PRICE ACRES DIMS LOT SQ FT DWELL FND SZ LOT QTY
PINK $77,000.00 0.19 68X125 8500 1730 45
DARK GREEN $ 87,000.00 0.19 68X125 8500 17
LIGHT GREEN $80,000.00 0.19 68X125 8500 9
AVERAGE $81,333.33 AVG 71
