Council approves rezoning for 64‑acre Paradise/River Road apartment project; developer outlines two‑phase, market‑rate plan
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Summary
Fiduciary Real Estate Development won council approval to reclassify 64.13 acres at East Paradise and South River Road for multifamily use. The developer presented a two‑phase, market‑rate townhouse‑style apartment community (about 230 units in phase one), preserving wetlands and a historic home and not seeking TIF assistance.
The Common Council on Oct. 20 approved a land‑use amendment and rezoning for about 64.13 acres at the southwest corner of East Paradise Drive and South River Road to allow a multifamily residential development proposed by Fiduciary Real Estate Development.
Craig Raditz, Vice President with Fiduciary Real Estate Development, and his team (Paul Schmitter and Sam Elliott) presented a conceptual plan during the council meeting and at earlier Planning Commission hearings. They described a two‑phase, market‑rate residential community intended to provide a "missing middle" housing product that the team said combines single‑family feel with multifamily upkeep advantages: two‑story buildings, private front doors for each residence and many units with attached garages.
Sam Elliott presented site details showing the developable areas (about 64.13 acres) and identified wetland and open‑space areas the developer intends to preserve. The team said the first phase would include about 230 units around a clubhouse and amenities; the clubhouse was described as a high‑quality amenity building (presenter estimated clubhouse costs in the range typical for the firm, noting comparable facilities with pools and leasing offices).
Fiduciary said it performed market research and would hold the property long term; the company emphasized it is not seeking TIF or other public incentives for the project. The plan preserves a historic on‑site residence that the developer plans to CSM and sell separately, and the presentation indicated a substantial landscape buffer and berming along the edge of the site.
Neighbors at Planning Commission raised typical concerns — traffic, wetland protection and the change from single‑family to multifamily — and council members discussed those points at the meeting. Developers said they had engaged the adjacent driving‑range operator (Stingers) about potential ball‑flight mitigation and noted Stingers plans to install a net; developers said they would explore additional berming and setbacks to reduce conflicts.
The council approved the comprehensive plan amendment and the rezoning to RM‑3 multifamily residential and related wetland and floodplain districts by voice vote. The project will return with detailed site‑plan and permitting steps.
