By Brianna Hollis, Multimedia Journalist at WAOW
A new high-end apartment complex is being proposed for 120 Scott Street in Downtown Wausau.
The property is across from the Dudley Tower.
The $6 million building would house 48 units, and include a community roof-top area, gym and first-floor retail space.
According to the proposal, put forth by Lokre Cos, one bedroom units would go for $895, and two bedroom units would cost $1,095.
Lokre is asking the city to sell them the land for $500,000, and provide them with a $250,000 grant. The proposal also outlines a $99,000 reverse TIF payment over 12 years.
City leaders seem excited about the idea, and said it would cater to an "under-served niche" in Wausau.
"There might be a few suburban apartments and a handful of cheaper apartments and single family homes," said Chris Schock, the city's economic director. "And what we're missing is the gradation or any opportunities in between that."
People in the community, though, think the prices are too high.
"It's a very limited amount of people that can really afford that kind of thing," said Audrey Plaisted.
Jojo Ortiz, another Wausau resident, agrees.
"When I think of small town Wausau, I don't really think high-end apartments," she said.
A similar complex is already underway on the north side of the city near Northcentral Technical College.
The Economic Development Committee will discuss the downtown proposal Thursday.