September 14th, 2005

NORTHFIELD — John Mathern, owner of the developing company Mendota Homes, closed deals on two Northfield properties this month, securing an additional piece for the Riverfront Redevelopment property and a corner on Highway 3.

Last Friday, Mathern and Community National Bank reached an agreement for the bank’s drive-up property on Highway 3.

“We closed the transaction and now he’s the new owner of that facility and that corner,” said Community National Bank President Don Kuehnast.

According to Mathern, his company will use the property to set up a temporary model of the condominiums his company is planning to construct at the Riverfront Redevelopment site, what Mathern has dubbed “The Crossing.”

Construction on this temporary building will start soon, he said.

On Tuesday, Mathern was expected to close a deal with the owners of the Riverfront Legacy Motel to purchase that property, which will become part of The Crossing — a mixed-use development that is bordered by the highway, St. Olaf Avenue, Second Street and the Cannon River.

Motel owner Bernie Horejsi was not available for comment on Tuesday afternoon.

Mathern is also in talks with the city to buy property in the Riverfront project, the Community National Bank’s downtown building and the Highway 3 property from First National Bank.

On Tuesday, Kuehnast said the two entities are ironing out details to finalize the sale.

“We will be proceeding forward to close the deal,” he said.

– Michelle Kubitz

Reprinted with permission from the Northfield News.