By Shereen Siewert
The group currently constructing the Riverlife Villages Phase I development on the city’s east riverfront is now proposing high-end condos just south of the current project area, a $5 million proposal that includes city participation of $485,000.
According to city documents, Riverlife Wausau LLC also seeks land from the city for $1, with $485,000 in tax increment financing to defray the cost of DNR cap management and cleanup, geopiers and groundwater or flood mitigation.
Riverlife Wausau, LLC, a local development partnership between Bob Ohde Construction, Mitch Viegut and Dr. Fernando Riveron, assumed control of the Riverlife Villages Phase I project in April after a series of city partnerships with other groups failed to materialize. Construction on Phase 1 resumed in November after weather delayed initial projections.
Viegut said the group is eyeing a June 1 opening thanks to a break in the weather that allowed for 50 cement trucks — and significant progress crucial to the project’s anticipated timeline. The development agreement with the city calls for the project to be complete no later than Dec. 31, 2020.
Under the terms of the latest proposal, the group plans 20-24 condos priced between $185,000 and $395,000, a project that includes an amphitheater for live musical performances directly on the water’s edge.
The Riverlife Condos project is one of several being discussed during a meeting of the city’s Economic Development Committee at 5:15 p.m. on Tuesday, Dec. 17 at City Hall, 407 Grant St., Wausau.
