It’s no secret that Falls’ population is aging, and residential developers are capitalizing on the changing demographic. Falls will be home to another sizable senior housing development in the next several years.
According to the latest census data, the median age in Falls is 43.3 years old, up from 39.2 years in 2000. The Wisconsin median age is 38.5 years.
United Financial Group has the green light to construct a 180-unit, multi- and single-family residential development on roughly 30 acres of land along Lisbon Road and west of One Mile Road. The development, dubbed the Waterside Highlands, includes a three-story, 151-unit senior apartment building, 16 senior townhomes, and 13 single-family lots. The development, excluding the 13 single-family lots, would cost up to $11 million, and generate $191,000 in tax revenue annually.
Thomas and Sherry Wruck own the land for the proposed development. Since 2005, they’ve been working to redevelop 134 acres on their parcel. However, several prior proposals failed to receive the endorsement from village staff. The latest proposal was successful and the Village Board last week approved a rezoning request that allowed the project to move forward.
The 151-unit senior apartment building would feature a 5,000-square-foot community center, four-season room, hearthside room, media room, workout facility, library, and heated, underground parking. Apartments would have layouts from 700 square feet to 1,000 square feet.
United Fiduciary won’t begin construction of Waterside Highlands until they complete another development near Community Memorial Hospital, which has a targeted completion date of 2017.
All 16 townhomes will be split into four, four-unit buildings. Each townhome will include two bedrooms and two bathrooms. The entire redevelopment site will feature four ponds for both aesthetics and storm water management.