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Council extends completion timeline for Foundry on Third phase after site tour
Summary
The Wausau Common Council approved a second amendment to the Foundry on Third development agreement, extending the project's completion timeline and allowing additional work to finish units and commercial space. The amendment passed 9-2.
The Wausau Common Council on July 8 approved a second amendment to the development agreement with Foundry on Third, Phase 1, LLC, allowing additional time to finish residential units and commercial space in the downtown Foundry building.
The economic-development resolution (file 19-0921) cleared the council on a 9-2 vote after council members toured the building and viewed a video presentation showing near-complete units, hallways and courtyard amenity space.
Andrew Lynch, who narrated the video shown to the council, described current construction status and remaining punch-list items. Council members praised the project’s progress and potential effect on downtown activity. “This project brings so much to the downtown experience going forward,” said one alder, noting the expectation that finished units and street-level commercial space will increase foot traffic for nearby businesses.
Nick Patterson and other representatives joined remotely for the discussion; council members who had toured the site said finishes, views and the skywalk connection to the parking ramp demonstrated the quality of work completed so far. Ald. Lukens, Ald. Larson and several others said the extension was a practical step to allow the developer to finish the work rather than halt completion.
The resolution authorizes the second amendment to the development agreement and was presented after review in the economic-development committee, which recommended approval. The council recorded the vote as 9 in favor and 2 opposed.
Implementation: the developer will complete final punch-list items, install delayed finishes such as countertops, and proceed with the planned tenant-ready “gray box” commercial spaces. Council members noted the project’s potential to increase downtown residential presence and support local businesses.
