Riverlife Village gets millions in city support

Wausau officials on July 12 approved spending $5.9 million to support housing and multi-use buildings as part of the riverfront development project.

The money allocated includes $2.27 million in grants and loans to Frantz Community Investors, which is developing 16 acres owned by the city south of Bridge Street. An additional $2.27 million will go toward infrastructure costs including sidewalks and storm sewers.

Mark Craig, manager of Compass Properties in Wausau, spoke out against the plan and said there is ample open office space downtown to support business growth.

Related: Riverfront developer seeks millions in aid

But Lisa Rasmussen, city council president, says the plan is meant to stimulate future growth for the city as well as future phases of the riverfront project.

Alderman Dennis Smith was the lone holdout voting against the plan, which will create 16 town homes, about 260 apartments and more than 70,000 square feet of mixed-use space.