WAUSAU, WI (WSAU) — Wausau Mayor Doug Diny knows the clock is ticking on a groundbreaking for the Foundry on 3rd project at the former Wausau Center Mall site, but so far he’s not worried about the developers missing that June 1st deadline.
“We’re very optimistic,” said Diny. “We’ve been in touch with all the players involved and we’re positive. I can’t give you any news today as to when we’ll be cutting ribbons or I’ll be putting on the ceremonial hat and [breaking ground] but that day is coming.”
Diny was one of seven Alders who voted to give developers T Wall Enterprises a nine-month extension of their groundbreaking deadline last October. He says since then he’s gotten no indication that they won’t make good on that. “My expectation is that the building gets built. If we are here in the end of 2025 and we don’t see people on a list ready to start moving in then we’ll be concerned, but I’m not going to be managing the day-to-day [of the project.]”
Diny added that while the city has a role in the project, including soil remediation at the site, he doesn’t want to be very “hands on” with the project unless necessary. “I’m looking at the big picture. When will we start? Can we keep it going? And Are we going to get it done?”
RELATED: Frantz officially out as Riverlife developer
He adds he doesn’t want the project to end the same way the original Riverlife housing and retail project did back in 2018 when contractors poured a foundation but work came to a grinding halt after the developers stopped paying their bills. That led the city to cancel the development agreement in September of that year.
“We can manage bumps in the road. We can’t manage [developers] walking away,” added Diny.
RELATED: Wausau City Council Approves Foundry on 3rd Extension
The city’s Economic Development Committee is scheduled to hear an update from T Wall during Tuesday’s meeting. It’s unclear if that update will include a firm groundbreaking date. Officials with T Wall have previously told the ED Committee they were trending toward a May 15th groundbreaking date.
Other topics Diny discussed with WSAU’s Mike Leischner include:
Start of video- Update on the Foundry project
5:10- City-wide revaluation
10:30- Does the city’s Park Commission need to exist?
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