The Wausau Common Council by a vote of 6-3 approved the general development plan for the downtown mall revitalization project Tuesday night, green-lighting the $44 million project that will dynamically and responsibly reestablish the downtown for the next 50 years.
The Foundry on 3rd plan, submitted by T. Wall Enterprises this spring and approved by the Plan Commission of the City of Wausau in June, includes the development of the 7.5-acre plot that once housed the Wausau Center Mall. The five-part development will ultimately include nearly 500 residential units as well as small retail, restaurants, dining areas, bike paths, and green spaces.
“Today’s vote represents the City of Wausau’s commitment toward investing in our community and creating a vibrant downtown for generations to come,” said David Eckmann, President/CEO of the Greater Wausau Chamber of Commerce. “The ripple effect of this project will be felt throughout our region making Wausau a premier destination in central Wisconsin for talent attraction and economic development.”
Eckmann added, “We are incredibly grateful for the community’s advocacy for the project and the vote of support from the Wausau Common Council. We look forward to continuing our partnership with the City of Wausau, the committed developer, and community leaders to see this project come to life.”
T. Wall Enterprises is working with the Wausau Opportunity Zone (WOZ) for the mall redevelopment project with a projected $44 million investment from the developer going into the initial plan of Block 4.
According to Eckmann, investments for the mall revitalization project include approximately $3.1 million from the City of Wausau and $4.4 million from WOZ, funded by the Greater Wausau Prosperity Partnership through gifts from the Dwight & Linda Davis Foundation and Judd S. Alexander Foundation.
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