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New deal to sell Edgewater awaits council vote

Sale could mean boost in low-income aid, but limited improvements for facility

7:01 PM, May 9, 2013
Under a proposal chosen by the city's community development authority, the city could sell Edgewater Manor for roughly $1.5 million, nearly double the initial deal would have sold it for.
Under a proposal chosen by the city's community development authority, the city could sell Edgewater Manor for roughly $1.5 million, nearly double the initial deal would have sold it for.
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A new deal to sell the city-owned Edgewater Manor could lead to a boost for Stevens Point housing, but limited improvements for the property itself.

The Community Development Authority will start negotiating with Affordable Senior Housing of Central Wisconsin of Rhinelander based on the proposal they submitted. Under the proposal, the city would receive about $1.5 million for the senior housing facility.

That beat out two other bids that offered a lot less for the property. Seramur Family Limited Partnership of Plover offered $800,000 for the property, but said they would need about ...

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