Developer updates town house progress

TOWER— Developers with Tower Vision 2025 gave an update to the city’s harbor committee here, on Monday, on their town house project, and more.

Lead developer Orlyn Kringstad noted that his company’s marketing efforts for the town house project are now underway, with the completion of a brochure and advertising in the GO Lake Country visitors guide. Their website, available at either www.towervision2025.org, or at www.towerharborshores.org, is also now operational.

Kringstad said his team is also working with a locally-based builder after initial town house construction estimates from Kraus-Anderson came in higher than expected. “It sounds like the builder we’re working with now will come in more in line with our plans,” said Kringstad.

The company will also be working with real estate firms to assist in the marketing and sales, but Kringstad said those agreements can’t be finalized until the city completes the paperwork for the turnover of land at the site. Kringstad talked off the record with the committee about progress on pre-sales, but noted that because the company doesn’t have formal control of the land at this point, they still can’t legally accept pre-sales. The city and Tower Vision 2025 are expecting to work out the final details on the land transfer, which could entail a lease agreement or a conditioned sale, before the end of the month— and that’s when the company could begin to pursue firm commitments in earnest. At this point, Kringstad said the company has both interested buyers and investors.

Meanwhile, project team member Jeremy Schoenfelder, founder and president of Sienna Partners, said the exact nature of the harbor development is likely to remain somewhat fluid over the next several months. It is likely to remain a mixed development with some town houses, some condominiums, and some potential commercial space as well, but he said the exact combination will be dependent on the level of interest for each potential use.

Other harbor committee members said they agreed with that approach. Steve Altenburg said he was encouraged that the development team was flexible. The city has already been approached by parties interested in establishing restaurants and a spa or wellness center on or near the harbor, which could become part of a mixed development at the site. “All options are open,” said Kringstad.

At the same time, Kringstad and his group is actively pursuing other potential projects, including a possible hotel and related facilities as well as an affordable housing project that would involve the construction of small, super-insulated, high efficiency homes with an alternative energy component.

“We’re not just interested in building 20 town homes. It’s much better for us to get involved in something that can be long term and that can evolve over time,” said Kringstad.