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Developers seek $950,000 in city support to convert 11 Scott Street to 52 downtown apartments
Summary
Developers presented a plan to convert upper floors of 11 Scott Street (Riverside Place) into 52 “missing middle” apartments and asked the City of Wausau for $950,000 in assistance. Public commenters and the Greater Wausau Chamber of Commerce voiced support. The council agreed to move into closed session to negotiate a term sheet on the project.
Developers representing 11 Scott Street LLC told the City of Wausau Finance and Economic Development committees on Oct. 14 that converting the largely vacant office building known as Riverside Place at 11 Scott Street into housing would fill a “missing middle” rental market and requested $950,000 in city assistance to make the project feasible.
Mark Craig, a developer with Lachry Development, and Raleigh Lachry, representing Lachry Development, said the four‑story building is difficult to lease as office space and that the proposal would convert the top two floors to residential use while keeping some office and ground‑floor uses. “We’re looking to redevelop and convert office use to residential use on the top two floors,” Craig said.
The developers said the full package, including office components and other work, would total about $10.6…
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