The pandemic-delayed ribbon-cutting ceremony for the Riverlife apartment complex on the east side of the Wisconsin River in Wausau was held April 20.
The local team of Mitch Viegut, Fritz Riveron and Bob Ohde formed Riverlife Wausau LLC and have completed the first phase of apartments at the project.
“We see the completion of this project as something big for the riverfront in Wausau.” said Viegut. “We feel proud to be associated with the project and want to offer some credit to our city’s leaders. They had a vision that is now coming to reality.”
Planning for the transformation of this property along the east bank of the Wisconsin River in Wausau been in the works for years. The City of Wausau began buying properties along the Wisconsin River in 1995, cleaning up contaminated land and preparing the area for future development.
A pair of initial developers, Frantz Community Investors and Barker Financial, both backed out of the project which broke ground in 2017, but which remained unfinished until a second round of ‘musical chairs’ with developers resulted in awarding the project to Gorman & Company, another out of town developer. Gorman & Company encouraged the city council to award the project to a local group who would become the eventual developers.
A new development agreement was signed in June 2019 with the group made up of Viegut, Riveron and Ohde.
“We are proud to offer this first-class building with first-class amenities for downtown residents.” said Viegut. “The facility has workout rooms, heated parking and fiber optic highspeed internet. All of these amenities place this apartment building in a new class for downtown living.”
Rents in the apartment complex range between $935 and $2,860 monthly. Just before Viegut cut the ribbon the on-site managers announced that the building is officially at 100 percent capacity.
“The views here are spectacular,” Viegut said. “If you look up and down the river, it’s just fantastic and a great location for accessing all of Wausau.”