Group reveals plan for Fowler Lake Village development

By Ryan Billingham - Freeman Staff

June 20, 2014

 The architectural rendering of the northwest corner of the proposed Fowler Lake Village project. A boardwalk, outdoor seating and dining areas would be created for all pedestrians.
Submitted rendering

OCONOMOWOC — A four-story, mixed-use waterfront development planned for downtown was given its first official reveal at the Tuesday, June 17 meeting of the Oconomowoc Community Development Authority.

Fowler Lake Village would include art studios, galleries, restaurants, a boardwalk and a green roof that captures run-off.

The building will feature 104,000 square feet of total space split between living and retail with 31 condos. Units would range from $279,000 to over $1.4 million.

The nearly $19 million project would be built at the corner of Pleasant Avenue and St. Paul Street behind City Hall.

Jeff Seymour is part of the development group Fowler Lake Village, LLC. Seymour, who is also an artist, developed the Brook Street Artisan Village, an eight-unit condo complex in downtown Waukesha.

 The architectural rendering of the southeast corner along City Hall.
Submitted rendering

He called the discussion at the CDA a “chance to tell the story of Lake Fowler Village.”

“I have been working hard to see the fullest potential of this quality redevelopment project to reality,” Seymour said.

In the proposed agreement, the city would provide a $6.4 million loan secured by a second mortgage and guarantees from the investment group, and tax incremental financing revenue as a back up.

The financial partners for the project are Judie and Jerry Couri of Couri Insurance; Andrea and Tony Bryant of Century Fence; Joan and Gary Lato of Eternity Investors; and John Boettcher of Pioneer Roofing.

Seymour said he is aware there are several projects underway downtown, but he feels it is a time of “great revitalization” for Oconomowoc.

He also said he is prepared and looking forward to wider public scrutiny as the approval process moves ahead.

The project’s concept is built around the idea of walkable community living and, according to Seymour, is in line with the city's downtown plan.

The CDA discussion is the first step in a longer process. The development authority will meet again in the next week and vote to recommend the proposal. If it does, the Oconomowoc Common Council could see a version of the developer agreement in July.