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City Council Approves Amendment to Development Agreement for Plaza Hotel Site | News

WAUSAU, Wis. (WAOW) – Wausau Town Council has approved an amendment to the Plaza Hotel site redevelopment agreement.

A change was made to the plan at a meeting on Tuesday night, changing the plan from one project to two separate ones.

This will allow the Lockre company to secure the financing of the project. However, they were unable to secure funding with the related projects.

If the change was not made, it threatened to block the project all together.

The land will be divided into three lots.

The tower part will be redeveloped into a Best Western hotel, another lot will be sold for redevelopment purposes, the third part of the hotel which is the swimming pool, the banquet hall and the two-story hotel will be demolished and refurbished by the Lockre company in apartments.

News 9 media partner WSAU radio reported in April that the the plan has been approved by the city’s finance and economic development committees.

“We’re just talking about making a deal with the developers and tackling a simple change at the end that decouples phase 1 and phase 2 in terms of recovery, that’s it,” said Tom Neal, fourth district alderman. .

The apartment building will have units at different prices.