Casey’s interested in Ramsey’s The COR

Casey’s General Store is looking at building a new store in The COR development area of Ramsey.

Casey’s General Store submitted a letter of intent to the city of Ramsey to offer $590,670 for 1.37 acres at the southwest corner of Sunwood Drive and Ramsey Boulevard. The city and developer are now negotiating some final details before finalizing a purchase agreement.Photo by Eric Hagen

Casey’s General Store submitted a letter of intent to the city of Ramsey to offer $590,670 for 1.37 acres at the southwest corner of Sunwood Drive and Ramsey Boulevard. The city and developer are now negotiating some final details before finalizing a purchase agreement.Photo by Eric Hagen

According to Ted LaFrance, economic development manager, the Ramsey Housing and Redevelopment Authority after a closed session Jan. 14 authorized staff to open negotiations with Casey’s based on the $590,670 offer the business offered the city through a letter of intent.

LaFrance said Casey’s still needs more information on location of utilities and access points before any deal would be closed for Casey’s to build on the southwest corner of Ramsey Boulevard and Sunwood Drive, which would be across the street from the Allina Medical Clinic.

The 1.37 acres which Casey’s is interested in purchasing is part of a 14.72-acre parcel the HRA owns within The COR. LaFrance told the HRA that the current valuation for this entire property would be about $3,429,000 so dividing that down to the size of the property Casey’s wants to buy brings it at a value of $319,000.

A representative from Casey’s could not be reached for comment.

Eric Hagen is at eric.hagen@ecm-inc.com

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