City of Platteville Purchased 29 Acres of Land

The City of Platteville announced a strategic investment in the community’s housing future. On Thursday, May 30, 2024, the city successfully acquired three tracts of land through a property auction, marking a significant step toward addressing the pressing demand for more housing in the area. The land acquisition of roughly 29 acres, purchased at $412,000, was funded through resources received from the closure and return of a housing loan.  Notably, this land purchase will not impact property tax bills for residents. Over the next few months, the city will begin exploring various opportunities to develop the newly acquired land. This process will involve engaging with community stakeholders, assessing housing needs, and identifying the most effective ways to utilize the properties to benefit the residents of Platteville. The City will be working with a Real Estate firm on closing the transaction. Until that transaction, the land is still owned by a private entity.