TOWER— At a meeting of the Tower Harbor Committee on Monday, two local real estate professionals offered their insights into the Tower Economic Development Authority’s plan to develop condominiums along the city’s newly- dredged harbor.

Lisa Janisch, of Janisch Realty, and Steve Abrahamson, of Vermilion Land Office, both recommended that the TEDA consider construction of at least one model unit to help spur sales.

While photos and descriptions can spark interest from buyers, they both said buyers prefer to actually see properties before making a final decision to purchase. “Nothing can replace the feel of it,” said Janisch.

The local brokers also offered their advice on the kind of amenities that buyers are typically looking for when they come to the area, and indicated that two-stall garages and docking would be important to sales. They also said that property taxes are a significant issue for many buyers, and that they should thoroughly understand the tax implications for purchasers of condominiums. Abrahamson also urged the committee to keep the price point in line with the realities of the market. He said he’s concerned that the prices suggested in the recent market study, which ranged from $235,000-$325,000 might be higher than the market will bear.

The input prompted later discussion and a decision to investigate funding that would allow the city to build a model unit. Tower City Clerk-Treasurer Linda Keith said the city already has three parties who have expressed strong interest in purchasing a condominium, either as a residence or as an investment to generate rental income. Committee members asked her to contact those individuals for a possible meeting soon to further confirm their interest. Even three firm buyers would almost certainly allow TEDA to finance construction of up to eight or ten units as part of a first phase of the project.

RFQ responses

Members of the harbor committee also got their first look at four responses to the city’s recent Request for Qualifications, or RFQ, from prospective architects and builders who the city could work with to advance the project. Among the four companies or groups to respond were DSGW, an architectural firm with offices in four Minnesota locations, including Virginia, and Architectural Resources, or ARI, which submitted a response in coordination with ESG Architects and Gentry Construction. Two other firms, Amity Creek Homes and Nordic Business Development, also responded.

Members of the committee will be reviewing the responses over the next couple of weeks before deciding their next move.

The committee also received a brief report from consultant Dick Grabko, who said a regional investor with experience in urban redevelopment has visited Tower and indicated strong interest in purchasing and redeveloping some Main Street properties, including the site of the former county garage. The committee will seek to set up a meeting with the developer in January.