Student Housing Need Prompts Developers to Move Forward on New Building

The Waukesha Plan Commission approved plans Wednesday night for the third phase of a residence hall on West College Avenue.

The need for student housing at has prompted developers to move forward with the third phase of a new residence hall on West College Avenue years ahead of schedule.

The final plans for the third phase — phases one and two are already complete — were approved unanimously Wednesday by the Waukesha Plan Commission. The plans call for the 52,392-square-foot building to have 4,699 square feet of retail space.

The residential hall for the university will include 130 beds in 32 units, according to city documents. The second phase of the project opened for student living last fall.

“We will have an issue this fall with beds because we have the need for this many beds this fall already,” said Ron Lostetter, vice president for finance and administrative service at Carroll University. “We will make some accommodations on campus for it. For our business to grow and prosper, we need beds.”

Carroll University leases the building from the developers, Clysmic III, which means the building remains on the city’s tax rolls. A tax incremental financing agreement has not yet been presented to the Common Council for the third phase of the development, but the first two phases of the development included TIF funding.

Tax incremental financing allows the city to provide funding to a project that will be paid back through the increased property taxes generated on the higher property value from the project.

The third phase is expected to increase property value to $7.4 million. The other two phases are worth about $10 million each, according to community development specialist Jennifer Andrews.

“We are very happy to see (the project) moving ahead so quickly,” Andrews told the Plan Commission.

Retail Development Moving Slowly

The second phase of the residence hall has retail space available, but so far only , a soup, salad and sandwich restaurant, has located in the building. and the difficulty of businesses to obtain loans for the stores has slowed down the development, said Alan Huelsman, the developer on the project.

Huelsman remains confident that the building will attract retail businesses such as a pizza place, ice cream store, a salon or a fitness center. The third phase of the project has room for two to three stores, he told the commission.

“We do have an ongoing conversation and are working with a number of retailers,” Huelsman said. “I am still totally convinced we can create a student community there and get these places filled with high-quality establishments.”

Carroll Student May 10, 2012 at 03:52 PM
They could also stop accepting more students than they have beds and parking spaces for. Maybe they could build another parking lot so freshman can actually have cars. Or fix the current parking lots that have potholes as big as cars, but that wouldn't bring in more money so that doesn't make sense.
Katie Piechotta May 10, 2012 at 04:21 PM
How about the college buy up all the slummy rental properties and apartments on Grand, Williams, Arlington and Dunbar streets for student housing? I would welcome it, frankly; I would rather have college students living in my neighborhood rather than the criminals and drug dealers that currently live in most of these slumlord's buildings, which are falling apart and look terrible, and which the city does nothing about, because city ordinances are not "top priority".
Carroll Student May 10, 2012 at 07:17 PM
Why doesn't Carroll University buy up all the slummy rental properties on Jackson Court, which have atleast two bedroom each and remodel them. It would be less money for Carroll since they would own the properties. I totally agree with Katie and also the other Carroll student that commented on the parking situation. The parking is horrible!
Carroll Student May 10, 2012 at 07:19 PM
It's just another way for Berg Management to make money off of Carroll. I don't understand why Carroll even deals with Berg Management, they are just another slum lord.
Carroll Senior May 11, 2012 at 04:16 AM
Carroll has plenty of dorms but needs more parking...we are a small university...don't accept more students then you can house...we are adults here and should be able to live where we want...I understand dorm life for fresh and soph years...but junior year too?


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