Bear Development is backing away from its plan to develop a large income-restricted apartment complex in a public parking lot in the heart of Janesville’s downtown.
Big Radio obtained a city email in an open records request telling the city council that Kenosha-based Bear says it now longer considering apartments off North Parker Drive, next to the historic Carriage Works property.
The email is dated Wednesday and is signed by City Manager Kevin Lahner. It tells city officials Bear is walking away from the North Parker site that the city wanted to hand Bear so they could build 78 units of subsidized, income-restricted apartments there.
The plan commission spurned the proposal this week, sending a unanimous recommendation to the city council not to declare the parking lot “surplus” as part of a set of moves to groom the lot for apartments.
Lahner writes in the email that Bear has backed off the North Parker site because of the commission’s recommendation.
Lahner writes that the city and Bear could bring a new proposal at a different site, but Bear is now under the gun with a deadline to secure a site so it can compete for tax credits.
Lahner says in the email that it will be “difficult” to find a new site that allows the same incentive package for Bear’s apartment concept.
