Artist rendering of The Foundry on 3rd in Wausau
WAUSAU, WI (WSAU) — The Wausau Economic Development Committee has approved a bid from Brian Luedtke and Associates to build a two-bedroom home with a two-car garage on a vacant parcel of land along Bridge Street.
Economic Development Director Randy Fifrick says one home won’t solve the city’s affordable housing crunch. But it will help someone put down roots while getting another house on the tax rolls. “The homeowner will have a commitment to that house and the city in the long-term. That’s something we like to see.”
The project will be subsidized through the city’s affordable housing fund, which includes ARPA dollars and Community Development Block Grants. No taxpayer funds will be used to help build the home. “We want to put that [money] to use because if we aren’t using it, we will lose it. The money comes from the federal government, and we want to utilize it for its intended purpose.
The committee passed the proposal onto the full council, though some committee members encouraged Fifrick and his staff to do some reference checks on Luedtke before the next Council meeting later this month.
Fifrick and the city’s inspection department were recently given a tour of the Foundry on 3rd project, saying the five-story building provided “beautiful views” of the city.
“We could have used some warmer [conditions]- they don’t have the HVAC working just yet- but it is looking great,” added Fifrick.
Managers with the project say they are getting plenty of commercial interest in the property. T Wall Enterprises has also opened the wait list for the residential housing units.
The committee also considered a parking lease agreement with T-Wall for 100 spaces on the third level of the nearby parking ramp but did not vote. Instead tabling the matter to allow for several tweaks to the legalese of the deal.
Fifrick, who was recently promoted to Economic Development Director after serving with the interim title for five months, says both the Foundry on 3rd and West Side Battery project from Gorman and Company are on track to be completed by the end of 2025.
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