Hill and Lake Press: Development continues in Cedar-Isles-Dean with Doran Calhoun Village purchase

Things may be generally quiet development-wise at the moment in our four Hill and Lake neighborhoods, but major changes continue to occur along the north side of Lake Street in Cedar-Isles-Dean. Doran Companies announced on August 31 that they had completed the purchase of the 28-year-old Calhoun Village shopping center from Pfaff Calhoun LLC for $24.9 million. Kelly Doran, founder and principal of Doran Companies, said in a statement that Calhoun Village “was attractive because of its location and potential for upgrades and expansion in the future.”
The 88,977-square-foot center is 90 percent leased. Doran said that while some tenant changes could occur in the future, there are no immediate plans in place.
The 2015 assessed market value of the center was $15.6 million, according to Hennepin County tax records.