Dundas Planning Commission Regular Meeting Agenda February 2026
Dundas and Rebound Partners Sign LOI for Apartment Redevelopment
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Description
The City of Dundas and Rebound Partners LLC have executed a Letter of Intent outlining negotiations for the redevelopment of six Railway Street parcels into a 116-unit mixed-use apartment building at an estimated cost of $26,245,000. The agreement establishes a due diligence period and exclusivity for negotiations, with further definitive contracts and TIF support to be determined.
Contract Details
Contract Amount
Estimated development cost: $26,245,000 (project basis)
Vendor
REBOUND PARTNERS LLC
Agency
City of Dundas, MN
Contract Type
OTHER
Document Date
February 23, 2026
Contract Term
Due diligence period of 120 days from execution of purchase/sale agreement; exclusivity period of 90 days from LOI execution
Renewal Info
Exclusivity period is 90 days from LOI execution. Due diligence period for environmental, title, and permitting reviews is 120 days from purchase/sale agreement. Any further renewal or extension is subject to subsequent definitive agreements.
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