A development in trouble

  • by: Billy Steve Clayton
  • Updated: April 21, 2008 - 9:28 AM

About 45 minutes northwest of the Twin Cities, Otsego Preserve is a new subdivision built at the peak of the real estate market. It now is a virtual ghost town. Otsego city officials estimate 67 of the 115 houses in Otsego Preserve are vacant. Some have fallen into disrepair. Many of the homes were purchased by investors who had hoped to sell them for a quick profit.

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