A rendering of the proposed design for the north area of the Riverlife development by Middleton-based developers T.Wall Enterprises. (Photo courtesy of T.Wall Enterprises and the City of Wausau).
WAUSAU, WI (WSAU) — The proposed $25 million Riverlife Condominium project has been canceled by the City of Wausau after numerous snags in the development process.
According to Wausau Pilot and Review, the proposal was pulled by the city on Tuesday during a regularly scheduled Economic Development Committee meeting, with many on the committee critical of a lack of progress on the project in the last year.
Madison-based T. Wall won the rights to develop the project over a local group, promising over 120 apartments and first-floor retail space in a building near the current Riverlife apartments, along with underground parking for residents. Since then, there has been little movement towards a viable developers agreement and other aspects of the projects.
Most recently the developers had been unable to produce insurance certification requirements and had requested another extension from the city.
RELATED: Wausau Economic Development Committee Selects Proposal for Riverlife North Development
No committee members motioned to allow for the extension, rendering the project dead in the water.
The committee noted that the project came with a good deal of positive energy when it was put forward, but they couldn’t see a future for it given the number of delays. The city will now regroup and will likely issue a new RFP for the property in the coming months.
T Wall is also working with Wausau Opportunity Zone for developments at the former Center Mall site.
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