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Developers submit waterfront proposals; RDA wins grant to fund renter-equity program
Summary
Jason reported two RFPI proposals for waterfront sites and said lofts are slated for occupancy in April; staff secured a La Crosse Community Foundation grant to pay for a ULI-supported renter-equity program to market to developers. The RDA will evaluate proposals and return recommendations in December.
Jason reported that two responses to the request for proposals for waterfront sites 11 and 12 arrived on Nov. 18, one from Raiki and one from Cowboy Jack's restaurant and events. He told the authority the proposals will be evaluated against standard criteria and the RDA’s “quadruple bottom line” metrics and that staff will bring a recommendation to the December meeting.
Jason said the developer for the waterfront lofts plans to occupy the units in April, and that the team expects to mobilize construction on Lot 9 immediately. He also updated the board on other projects: 360 Real Estate expects to begin construction on a commercial building in spring 2026, and MSP’s Lot 6 senior building could grow from about 165 units to 180 depending on a pending market study.
“We did get the La Crosse Community Foundation Grant,” Jason said, explaining the funds will be used to engage the Urban Land Institute to develop a renter-equity program that staff can market to developers. He added that UW–La Crosse faculty and a student researcher are assembling public‑health metrics tied to urban redevelopment to help document community benefits.
The presentation included an investment range for the Lot 6 senior building of roughly $50 million to $70 million, depending on final configuration and height. Jason said staff had also circulated the RFEI widely and expects additional proposals for other lots.
The RDA will review the evaluations and return a recommendation at its December meeting.
