village of Mukwonago is in the process of negotiating a deal
with a developer for 84 apartments to be located at 915 Main
— Village Board members will vote on spending approximately
$80,000 to revitalize the former Lynch dealership at 915 Main
Street as they continue negotiations with a developer to construct
an apartment complex.
Administrator and Economic Development Director John Weidl said if
approved, the village would tear down the former Lynch dealership
and clean up the soil on the property, which was contaminated by
the former tenant.
with the developer include a proposed 84-unit apartment complex
that could have up to three separate buildings, according to a
rendering. While the village is still negotiating with the
developer, Weidl said the revitalization project would prepare the
land to be marketed to other developers even if the 84-apartment
complex falls through.
only does it make sense in getting ready for this developer, it
works out from a marketing perspective in working to get a
developer on its site,” Weidl said. “Plus, it’s ugly and
we’ve had some vandalism on the site.”
said the $80,000 it would cost to revitalize the property will
come from a tax incremental financing district expense and will be
recovered through the taxes paid by the developer once the
development is complete.
to a state of the village PowerPoint, the project could generate
up to $10 million in new taxable development. Weidl did not want
to discuss the specifics of the developer’s agreement. However,
Weidl referenced the property in a previous article where he
suggested a developer’s agreement for the property could
generate $3.8 million in payments to the village over 20 years.
we’re still negotiating, it’s too soon for me to discuss the
outcome,” Weidl said. “I would suggest it will fall in line
with other agreements that the village has made over the last
village purchased the 4.5-acre property for $1.2 million in 2014.
The village had hoped to lure in a developer to create a mixed-use
high-rise development with retail on the first floor and
apartments or condos on the top floors, but those plans never
Village Board may take action on the 915 Main St. revitalization
plans at a meeting Wednesday at 6:30 p.m. in Village Hall, 440
River Crest Court.