NEW ULM – For the last time, New Ulm Economic Development Authority (EDA) approved next year’s budget for Garden Terrace apartments. Last month the EDA agreed to sell the ownership rights of the two Garden Terrace apartment buildings and a vacant lot near the property to Rebound Partners for $7.3 million. Rebound is interested in developing additional housing on the vacant lot and improving the existing apartments. Economic Development Director Heather Bregel said Rebound Partners has signed the purchased agreements, but no closing day has been set. Bregel said Rebound is hoping to ...