The City of Fort Atkinson is seeking an experienced real estate developer to build on 75.6 acres which it owns along Banker Road.
According to information released by the city, the developer will partner with the city to build-out the city’s approved residential Neighborhood Plan. The acceptance period runs through April 1, 2022.
The city’s goals in developing and marketing the Neighborhood Plan are to provide a wide range of housing units at various price points; to provide the ability to fit the needs of many different buyers; to attract new residents to the community, and to encourage the turn over the existing housing stock to provide new options for existing residents, the release stated.
The city is interested in minimizing risk for the developer while preserving the integrity of what is expected to be a very attractive, sustainable and perhaps repeatable development for the city. The city intends to discuss the project with eligible firms and enter into negotiations for proposals from up to three firms. These proposals will be taken to the city council for review and action, the release continued.
As stated in the release: “The city has already taken several proactive steps in advancing this project forward. These include identifying existing housing gaps and needs; a streamlined and straightforward review, permitting and approval process; improved zoning and land division ordinances; and aligned community and site-specific plans and goals. A seven-member Plan Commission and a five-member city council have both approved the Neighborhood Plan for the site.”
Additionally, the release noted, “the city is looking for developers willing to commit to a reasonable implementation schedule, a development plan that maintains much of the intended feel and quality of the Neighborhood Plan, and a reasonable expectation for return on investment. The mutual commitment of both the city and developer will be solidified in a Development Agreement between the two parties.”
Construction on the subdivision is anticipated to begin by the spring of 2023, according to the release.
Developers interested in the project can visit www.fortatkinsonwi.net/bankerroad to review the Request for Interest, the Neighborhood Plan, and for additional information about the city’s housing gaps.
An earlier story about conceptual plans submitted to the Plan Commission for the city-owned Banker Road site is here: https://fortatkinsononline.com/plan-commission-to-consider-banker-road-neighborhood-conceptual-plan/.
Graphics above, as prepared by Madison-based Vandewalle and Associates, show two conceptual development plans proposed for the recently annexed and city-owned acres along Banker Road. Supplied graphics.
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