WAUSAU — Quantum Ventures announced today that Rainy Investments of Elgin, Illinois has signed a letter of intent to become co-developer and 50 percent financial partner of Phase One of the Riverlife Village Development.
“We are excited to welcome Rainy Investments to the Riverlife project,” said Mike Frantz, President and CEO of Quantum Ventures. “Their expertise and enthusiasm for the Riverlife Development make them the right partner to work with Quantum on moving the project forward.”
According to a news release issued Tuesday afternoon by Quantum, Rainy Investments is a group of greater Chicago-based companies in residential, commercial and land real estate investment, development and management with a combined portfolio of over $40 million. Currently holdings include 125 luxury townhomes, over 200,000 square feet of industrial and offices and more than 165 acres of development land in multiple locations along with a property management firm.
“Riverlife is a natural fit for us,” said Ken “Bucky” Buckman, CEO of Rainy Investments. “As Mike has shared more and more about the opportunity that exists on the banks of Wisconsin River, my enthusiasm has only increased. The demographics of the City of Wausau and the active involvement and excitement for this project by municipal leaders, have made it an easy choice to join this venture, not only for Phase One, but for years to come. We are excited to get to work and bring this beautiful legacy project to life.”
Mike Frantz will present additional details to the Wausau City Council’s finance committee during their regularly scheduled meeting, slated to begin at 5:15 p.m. Tuesday at Wausau City Hall.
