WEDC investment to help fund construction for commercial space and apartments
MADISON, WI. MAY 27, 2021 – The City of Weyauwega is receiving a $93,000 state grant to help renovate a building located in downtown Weyauwega.
The Community Development Investment (CDI) Grant from the Wisconsin Economic Development Corporation (WEDC) will support remodeling a vacant building into commercial space and apartments.
“WEDC is committed to helping communities invest in revitalizing their downtowns to encourage economic growth,” said Missy Hughes, secretary and CEO of WEDC. “These renovations will make a real difference in Weyauwega by adding housing opportunities and encouraging future investment in the downtown area.”
Earlier this year, WEDC’s report “Wisconsin Tomorrow: Building an Economy for All” identified community infrastructure – such as affordable housing and vibrant downtowns – as one of the keys to our state’s recovery from the COVID-19 pandemic. The report notes that investing in affordable housing and strong communities is critical to attracting workers and ensuring the economic well-being of all Wisconsinites.
The City of Weyauwega is working with the current owners of the property for the project. Significant remodeling of the building is needed to eliminate the dilapidated interior and repair the damaged roof. After renovations, the building will hold two commercial spaces on the first floor and two apartments (both two-bedroom units) on the second floor.
“We are very pleased to receive this grant and to work with owners Steve and Terrie Liebe to revitalize a commercial retail space on the first floor and two apartments on the second floor on Main Street,” said City of Weyauwega Administrator Jeremy Schroeder. “The city will continue to work with developers and entrepreneurs to grow the downtown and business community to offer more opportunities for citizens and guests.”
The renovated building will offer two storefronts with a main entrance vestibule on Main Street, and the apartments will have a private entrance on Main Street. Completion of the project is expected in June of 2022.
“We are excited to bring additional rental properties for commercial businesses and some new apartments available in the upper level of the building,” said Terrie Liebe, one of the owners of the property.
Demolition work includes removing damaged subflooring, installing drywall and cleaning. The property owners plan to complete most of the interior gutting and remodeling with assistance from contractors for major repairs and replacements.
“Wisconsin is known for its historic main streets,” said state Sen. Joan Ballweg. “Congratulations to the City of Weyauwega on this local economic revitalization project!”
“After a year of lockdowns and shelter-in-place orders, it’s encouraging seeing the WEDC, Steve and Terri Liebe, and the City of Weyauwega cooperate toward this renovation,” said state Rep. Kevin Petersen.
This project is part of the city’s plan to revitalize vacant buildings on Main Street. The city aims to continue to attract and retain businesses in the city’s industrial parks, commercial areas and downtown in a cost-effective manner that is consistent with community characteristics. The owners of the building for this project have successfully purchased, remodeled and rented/leased four other properties on their own, with three of these properties located on Main Street.
WEDC’s CDI Grant Program supports community development and redevelopment efforts, primarily in downtown areas. The matching grants are awarded based on the ability of applicants to demonstrate the economic impact of the proposed project, including public and private partnership development, financial need and use of sustainable downtown development practices.
From the program’s inception in 2013 through Sept. 30, 2020, WEDC has awarded nearly $26.7 million in CDI Grants to 87 communities for projects expected to generate more than $446 million in capital investments statewide.