Wausau City Hall. MWC photo by Mike Leischner
The Wausau City Council is set to consider the formal cancelation of a development agreement for the Riverlife Condos project, which was proposed two years ago but has since failed to get off the ground.
The city’s Economic Development Committee discussed the matter last week and voted unanimously to pull the plug on the project following a closed session. Alder Lisa Rassmussen noted that the city had been patient with the developers, who successfully built an apartment complex near the proposed building, but made it clear that the group had run out of goodwill with city leaders.
Developers had originally planned for the building to be up and occupied by the summer of 2022 but later came back with three amendments which each delayed the opening date. The most recent change called for occupancy by May 2024.
That change also called for the developers to take possession of the land by November 1st, which didn’t happen.
In addition to the construction delays, the developers also changed the size of the project numerous times and removed other features such as an outdoor amphitheater, which many on the council had said would be a community asset.
The measure will be considered as part of Tuesday’s meeting, the final such gathering of the year for the body, which begins at 6:30 at City Hall.
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