Wangard proposal. Image courtesy: City of Wausau
Wausau’s Economic Development Committee will hear two proposals for potential developments in the Riverlife area on Wednesday, including one from a developer already working on a downtown development.
T Wall Enterprises has submitted its interest in the property, though did not submit a detailed proposal for the area. Their proposal notes that they remain focused on the Foundry on 3rd project but would be interested in developing the land in the next few years if the city doesn’t choose a developer this time around. The presentation also includes samples of developments, both commercial and retail, that they’ve completed across the state.
T Wall is already laying the foundation for the mixed-use retail and housing development where the Wausau Center Mall once stood. Ground was broken for that project earlier this summer, and crews have been digging and laying concrete for the last few weeks.
The other proposal comes from Wangard Investment and Real Estate in Milwaukee. They’re proposing 135 rental units in two buildings with first-floor parking and a community space. Studio, one-bedroom, and two-bedroom apartments would be offered in the $34 million development.
You can see both presentations by clicking here.
The Committee will hear presentations from both developers and go into closed session for deliberation. Action on the item is possible.
Wednesday’s meeting begins at 5:30 PM. The land in question is located near the intersection of First and Fulton Streets along the Wisconsin River.
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