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Apartment project terminated

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Submitted by admin1 on Wed, 10/26/2016 - 12:03

The 22nd Street Apartment project proposed in September by developer Luke Pelton has been terminated by the developer, who has determined the Prairie du Chien project will not be profitable. This news was given to city administration on Oct. 18 and shared with the Redevelopment Authority during its Tuesday, Oct. 25, meeting.

According to City Administrator Aaron Kramer, the property will revert back to the Redevelopment Authority, which previously approved the sale of the land to 22nd Street LLC on Sept. 27.

“While we are obviously disappointed at the developer’s decision, and the demand certainly seemed to be there for the apartments, I can assure you that the city did everything possible to make this project happen,” Kramer stated. “I am very proud of the effort put forth by the staff, who were operating under some daunting deadlines, to put in place, what we believed, was a viable and attractive incentive package. I think it speaks very highly of their commitment to growth and development in Prairie du Chien.”
 

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