WAUPUN — The Waupun City Council approved a developer agreement between the City and Carver Flats, LLC for the construction of 56 market-rate apartments on the south side of town.
City Administrator Kathy Schlieve presented the plan to the Council at the special council meeting on Tuesday, December 17.
The 56 units will be across four multi-family buildings with a mix of 1, 2, and 3 bedroom units. These new buildings will be located on a 4.4 acre lot in the Heritage Ridge subdivision on Bayberry Lane. Addresses have yet to be plotted, but the planned lot is at the northwest end of the cul de sac, covering 1357 S Watertown St and the lot immediately south of it.
Bids for the project were solicited back in May but by the due date in July only Carver Flats had expressed interest to the City.
“We had lots of conversations in the process, and that started us on a discovery process,” Schlieve said. “I was able to go over to Baraboo and walk through some of the development they have been doing over there.”
Schlieve presented several slides of the proposed project, along with some pictures of previous projects that Carver Flats have worked on in other communities. This included pictures of Baraboo’s Greenfield Estates, which are similar to what Carver Flats have proposed for Waupun.
After Schlieve completed her summary of the project she asked the employees of the company to give some words.
Luke Pelton, one of the project managers, briefly discussed the company and what they’ve done around the region.
“We’ve built 650 units since 2005, and we manage all those units as well,” he said. “We’re not only the developer-builder, but we’re also the manager. We are not a merchant builder, so hopefully we’ll be here for a very long time.”
Along with the apartments there will be a manager’s office on site, along with a regular maintenance employee.
“That was really key, because we’ve experienced buildings that aren’t managed, and we know that doesn’t work well,” Schlieve added.
Mayor Rohn Bishop also added that he thought that this project is perfect for Waupun’s needs.
“You’re multi-family housing, you’re going to have people on site, you’re going to be market-based, and they’re going to be clean and well-kept,” Bishop said. “I’ve seen your renderings for a few months now and I think it’s perfect for that location.”
According to Pelton, their typical builds are twelve or sixteen units, with twelve units having their own attached garages. In the sixteen unit buildings, the four without garages are studio flats.
Before passing the motion, Schlieve presented the developer and city obligations under the agreement.
In short, Carver Flats will construct no less than 56 units across four multi-family buildings. The project must begin by August 1, 2025 and be complete by no later than December 31, 2026. The properties must also produce a guaranteed minimum tax base value of $2.5 million for 2026/2027, and $6.7 million for 2027/2028.
On the City’s side, selling the land at $1 serves as an incentive for the project. The City will provide water, electric, sewer, and stormwater infrastructure on Bayberry Lane, along with working out plans on telecommunications and gas service for the property.
The City will also provide a $900,000 forgivable loan at 0% interest, which will have a 10-year forgiveness period of $90k per year.
Financing must be completed and verified before construction can begin.
If everything goes through, Waupun could see the first units open in Spring 2026.
“This was a pretty significant milestone but we have more steps we actually have to get approved before we are able to see the development happen,” Schlieve said following the meeting. “There will be a site plan at the plan commission and then a big piece with the DOT and getting some approval in a setback for the development. So that remains to be seen, but we’re hopeful and this was really a big milestone tonight.”
The sale of both lots to Carver Flats, LLC for $1 was also approved by the Council. According to the agreement, if construction doesn’t begin by August 2025, the land will be sold back to the City.
Carver Flats are currently building in Campbellsport and already have apartments in Reedsburg, Baraboo, West Baraboo, Prairie du Chien, Dodgeville, and Rock Springs.
