RDA hears Fox Point development proposals
Monday evening, the Merrill Revevelopment Authority heard two development proposals for the former Fox Point Sportswear property, located at 1905 14th St./CTH G.
Present on Tuesday were John Donovan from Mosinee based S.C Swiderski LLC and Scott Kwiecinski of Madison based Horizon Development Group, to offer presentations of proposed residential development on the property.
As part of his presentation on behalf of S.C Swiderski, Donovan discussed a proposal to build a four-building, 56-unit apartment complex.
Two buildings would house 12 units while the remaining two buildings would house 16 units. Both buildings would feature 1, 2 and 3 bedroom apartments measuring 958 square feet to 1,350 square feet.
Units would be accompanied by unattached garages and hot-water boiler heat with a market value rent range of $720-995/monthly.
Donovan indicated the cost of the development proposal to be in the range of $4 million and if approved, construction could begin as early as December, with an estimated completion by summer of 2017.
While Donovan’s proposal consisted of privately owned and financed development, Kwiecinski’s proposal called for a partnership with the Merrill Housing Authority.
According to Kwiecinski, Horizon’s three-building, 60-unit development proposal would feature townhome-style units with attached garages constructed beneath the living units. Units in the Horizon proposal would also consist of 1,2 and 3 bedroom options, featuring forced-air heating and cooling, and ground floor private entry.
Kwiecinski indicated the Horizon proposal would come with a price tag of $9.8 million, $6.8 million of which being contingent upon approval of Wisconsin Housing and Economic Development Authority (WHEDA) tax credits and an $850,000 affordable housing grant.
Application for the WHEDA funding would begin in January and if approved, construction of the Horizon development proposal could begin as early the summer of 2017.
The development would consist of “mixed income” based rent, according to Kwiecinski; 51 units would be rented on an “affordable housing” basis and nine units would be rented at market rate.
Renters of the Horizon proposal would be subject to strict qualification criteria including stable income verification and background checks, as well as an annual re-certification based on the same criteria,
As proposed, the Merrill Housing Authority would manage the complex locally, with on-site 24/7 availability for renters.
Following presentations and public comment, the RDA convened into closed session to discuss the proposals. Following nearly 30 minutes of discussion, the RDA took no action and tabled the matter for an Oct. 4 meeting.