WAUSAU, WI (WSAU) — The Wausau Economic Development Committee did not select a developer to build affordable housing units at 700 Grand Avenue, opting instead for more time to digest the proposals.
Four different developers spent a total of about 84 minutes laying out their plans to the committee including Commonwealth Development, General Capital, Horizon Development Corp, and Gorman and Company. All four proposals called for at least 50 housing units with parking and other amenities.
Community Development Manager Randy Fifrick says the committee wants to get some feedback from the community before they decide.
“It’s really important to have some community input into this. These are all good proposals, and it’s difficult for us to choose one based on the quality of everything,” said Fifrick.
Tuesday’s presentations will be made available on the Wausau Development Website by the end of the week. Residents can submit feedback on the plans to the development office or members of the Committee at their next meeting on November 1st.
All four proposals include parking and most call for on-site management. The proposal from Gorman and Company consists of senior housing units; Horizon Development Corp would include eight market-rate units with the remainder at affordable rates.
“Overall, we’re excited about what we were able to get. It’s a great opportunity,” added Fifrick. “We know we need housing in this community. Whether that’s low-income, market-rate, or middle. We need it all; single-family, multi-family, we need places for people to live.”
Fifrick notes that Marathon County currently has about 70,000 jobs and just 60,000 units of housing, meaning this project and several others that are currently in the pipeline are a win for the city.
“It all adds up to more housing options for residents,” he added.
