WAUSAU, WI (WSAU) — The city of Wausau has accepted a $250,000 grant from the Judd S Alexander Foundation for the redevelopment of the former Marathon Box (MBX) property on First Avenue.
Mayor Doug Diny says that it will go a long way towards getting the property ready for redevelopment, a process that will involve demolition and environmental cleanup. Once that’s complete, there will be about four acres of buildable land offering a blank canvas for developers looking to build on the city’s long-term riverfront redevelopment vision.
Diny adds that groups often offer matching grants, meaning the city could easily turn that into $500,000 without dipping into levy dollars, an amount that he says should be more than enough to complete the job. “We better be able to knock it down for that,” said Diny.
He says some developers have already expressed interest in the property. While there’s no firm plan for the site, he could see it become a mixed-use development with gathering spaces and housing. City planners have also noted that the property will create a missing link in the west-side riverfront trail.
RELATED: Wausau Purchases MBX Site on First Avenue for Redevelopment
Diny adds that the redevelopment will involve a balance of finding the right developer and plan that can get the land back on the tax rolls as quickly as possible. “We don’t want to buy properties for a 20-year hold. That’s the ‘buy-and-hold’ real estate business we shouldn’t be in. In this case, I’d like to think we can get [the redevelopment] done reasonably quickly and wisely.”
Other topics Mayor Diny discussed with WSAU’s Mike Leischner include:
Start of video- Lead service line recap for 2025 and 2026 preview
5:45- MBX grant
11:50- New hangar lease at the downtown airport
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