WAUSAU, WI (WSAU) — The next chapter in the life of Wausau’s stalled Riverlife Development will begin to write itself Tuesday night during the city’s Economic Development Committee meeting.
That’s when two Wisconsin-based developers- 500 East Bay LLC of Wausau and Oregon’s Gorman and Company- will go before the committee to present their visions for what the area could be.
Gorman and Company showed an interest in taking the current foundation of the project and building apartment units with the possibility for retail space as well. That’s only after the nearly $3 million in liens for work already done on the project are taken care of, which city leaders have remained mum about so far.
Wausau-based 500 East Bay LLC didn’t name a specific vision in their proposal, only touting their history of hotel and housing developments in several states. That list includes the Rib Mountain Inn and Stoney Creek Inn.
A third developer, Dave Johnson, submitted a proposal for a parcel of land not included in the current development with the intent of building high-end condo units on the site. Johnson estimated the 17 units would cost just under 10 million dollars to build with just over a quarter million in annual tax revenue for the city. He also emphasized that “Phase I issues/problems need to be resolved prior to starting this project.”
Tuesday’s meeting begins at 5:15 at City Hall. The order of the presentations has yet to be determined according to the posted agenda. Following the presentation, the group is scheduled to discuss the presentations with possible action.
