By Shereen Siewert
A proposed $48 million development slated for the former Wausau Center mall site is one step closer to fruition after a crucial vote Tuesday by members of the Finance and Economic Development Committee.
Tuesday’s meeting, discussing The Foundry on 3rd, saw a long line of public commenters from a range of business leaders including those from Greenheck, Marshfield Clinic, Church Mutual, Aspirus, United Way and others. Wausau School Superintendent Keith Hilts also spoke. All public comments were in favor of the development, which will rely on $10.8 million in additional taxpayer-based incentives, inclusive of principal and interest.
Ben Lee, speaking on behalf of the United Way, also spoke in support of the project. He said that the concerns over the affordability of the apartments, which will range from roughly $800 to $2,850 per month, are offset by the opportunity the project creates for residents. He said the United Way is working to address affordable housing in other ways.
Former Community Development Developer Ann Werth also spoke, reminding committee members of the city’s past history of successful public-private partnerships including rental rehabilitation programs, The 400 Block, the downtown facade program and others that have enriched the community and enhanced the downtown. This, she said, is another opportunity to bring workforce housing – a critical need for the community – to the downtown.
“We can and should do this project,” she said.
Current Development Director Liz Brodek said she feels honored to have worked on the project, and claimed that people have already moved to and businesses have opened in the community depending on this specific development. Brodek pointed to the demonstrated need for additional housing in the community, with data that show the area needs about 10,000 additional units. The proposal, which includes 154 apartments, will bring a tax base equivalent of about 125 new homes in the city, she said.
After about an hour in open session and a closed session, the members voted to approve the Foundry on Third project. Dist. 3 Alder Tom Kilian cast the sole vote against the development.
Shereen Siewert is the editor and publisher of Wausau Pilot & Review. Contact her at [email protected]. Follow on Twitter at https://www.twitter.com/shereensiewert
