The long-discussed Walden housing development on the south side of Hastings took a significant step forward recently with a pair of land transactions signaling the project is moving ahead.
LandEquity Development LLC of Blaine purchased the 71-acre site for the Walden development from Best Development on Feb. 27. A few days later, on March 3, LandEquity sold the property to 310 Designs and Development Inc., also based in the north metro.
The land is located along Red Wing Boulevard near Highway 316 and Michael Avenue and has been planned as a major residential development on the edge of the city.
The project, known as Walden, is proposed as a 186-lot housing development on the 71-acre site. The design has evolved since it was first introduced in 2023.
Earlier versions of the project included a mix of housing types, including apartments, townhomes, senior living units and single-family homes. However, developers have since shifted the concept to focus entirely on owner-occupied housing.
Current plans call for single-family homes and villa-style units, with projected prices ranging from roughly $500,000 to $700,000. Villas are expected to be priced in the $500,000 to $600,000 range, while single-family homes could range from $500,000 to $700,000.
Developers have indicated the project could begin moving dirt as early as next summer if approvals and market conditions allow. Construction would take place in phases, with the full development expected to take three to five years depending on sales.
The Walden property was annexed into the City of Hastings in 2023 and has since gone through preliminary review by the Hastings Planning Commission.
Plans for the development also include dedicating approximately 13 acres adjacent to the Hastings Sand Coulee Scientific and Natural Area. Whether a neighborhood park will ultimately be included in the development remains under discussion with city officials and residents.
While the project experienced delays over the past year amid higher interest rates and a softer housing market, the recent land sale is seen as a sign that the development is moving forward.
Additional approvals, including a final plat, are expected to come before the city in the coming months as planning for the project continues.