Editor’s note: Wausau Pilot & Review gladly publishes commentary from readers, residents and candidates for local offices. The views of readers and columnists are independent of this newspaper and do not necessarily reflect the views of Wausau Pilot & Review. To submit, email [email protected] or mail to 500 N. Third St., Suite 208-8, Wausau, Wis. 54403.

Dear editor,

It is said that the definition of insanity is the act of doing the same thing over and over and expecting a different result. It appears that this is the current state of the projected project The Foundry on Third.

In the not too distant past the city leaders found themselves embroiled in a supposed project along the river front. I think we can all recall the trials and tribulations that were involved in that project. The city hooked their wagon to a developer that was under funded and brought into the project a string of other supposed investors, some with rather unsavory reputations. It was a process that was torturous and played out over an extended period of time and ended up with the city paying off the developer’s debts to some local businesses. I remember this, all to well, as I was the alderperson for the 11th district as this train wreck was taking place. While the current situation surrounding The Foundry on Third is not exactly the same, it is similar enough to cause concern.

During this process some members of the council have expressed concern as to the viability of this project. This makes sense as we elect our city leaders to look out for the best interests of the citizens who elected them. However, this concern brought a very strong rebuke from the developer to the point that he demanded that the three that did nor share his position either resign from the council or recuse themselves from any further participation in debate surrounding the project. Of course, this was a ridiculous request and may go to the state of mind of the developer as it would appear the project is crumbling around him.

I have watched videos of the council proceeding surrounding this project and noted that some business owners appeared before the council to pitch the project as very necessary for the future of the city. One can only wonder if these same business owners were approached by the developer as he sought funds (investors) and if these same individuals decided to get some skin in the game.

At the present time the fate of this project is still unknown but the hesitancy of the developer may have a unrealized motive. That motive is that the developer has realized that while he was attempting to cobble together the necessary financing for the project the upscale housing situation in Wausau had changed and much of the demand for such housing has been fulfilled by other projects that have been completed.

So if this project comes to fruition (which is dubious at best) there may not be the need for the units he has constructed and he will be siting on a large number of empty apartments. It would be well to remember that if the developer goes in the tank, the city goes right along with him.

In closing I ask the members of the council who still support this project to take a long, hard, objective look at the possibility of this project morphing into Riverfront 2.0. And if they really want to deal with that possibility.

Respectfully,

Dennis R. Smith, Wausau