Rendering of proposed development in Wausau's Riverlife area. Image courtesy: SC Swiderski/City of Wausau
CONLEY COMMENTARY (WSAU) – Finally, Wausau has picked the right developer for its Riverlife project.
Riverlife has struggled over the past three mayoral administrations, and has had more failures than successes. A past developer from Illinois began construction and didn’t pay the local subcontractors. The city bailed out the project. A Madison developer dragged its feet in signing a development agreement, and ultimately decided to move forward on a different project. The Landmark redevelopment had state tax credits to underpin the financing, Riverlife did not.
Now comes S.C. Swiderski, a local developer. They were one of the original bidders for Riverlife. And now they are back with a proposal that was approved by the city’s economic development committee last week. They’ll build a second apartment building with 200 units and a small amount of retail space and a parking ramp on the site.
They are the right choice.
I don’t know anyone at Swiderski. I “know” them only by their work, and their work appears to be excellent. The Urban West apartments near Merrill Avenue are the latest Swiderski project in Wausau. The building looks… great. And the consensus is that it’s a high-quality, well-managed, attractive project.
What they propose to build at Riverlife is bigger. But Swiderski checks all the boxes for what the city should look for. They’re a local company with a good reputation. The projects they propose are seen through to completion. They appear to be a high-end builder; their projects appeal to the eye.
Another clue that Swiderski is the right choice is that they are putting up their own money, in partnership with the city, to make it happen. A rival proposal simply didn’t look as solid. It was a partnership of two out-of-town developers that was more dependent on tax credits for financing.
Riverlife has been an asset for Wausau that needs to be seen through to completion. Wausau residents love the walkway, the children’s park, and views of the water. The one apartment building that’s gone up so far is full. The city originally envisioned two or three more buildings there. Hopefully the right people are in place to make it happen.
Chris Conley.
Comments