DOWNTOWN HUDSON, WI
Pre-Development Services, Feasibility, Site Acquisition, Development Management
CLIENT: THE GAGNON FAMILY
CITY: HUDSON, WI
SIZE: PARTS OF TWO CITY BLOCKS TOTALING
2.76 ACRES
CHALLENGE:
Hudson is a picturesque historic St. Croix Rivertown that is a 30-minute drive from downtown Minneapolis. The Gagnon Family owns parts of two city blocks located between the town’s historic Main Street and the St. Croix River. These are used for surface parking and light industrial buildings. The walkability of Hudson’s Main Street, its amenities and the views and proximity to the river make this an ideal site for high-quality, market rate rental housing. The Gagnon family wants to see the sited developed in a way that would honor the character of downtown Hudson while creating a legacy asset for the family.
RESULTS:
• Conducted personal interviews of all stakeholders to gain situational awareness. Facilitated creation of a project charter and guiding principles.
• Developed a simplified process to reduce complexity,
• Coordinated a development study to determine the site’s potential, identify key issues and developed a preliminary proforma together with visualizations of potential projects.
• Toured comparable projects with Gagnon team to help them understand multi-family projects and identify likes and dislikes.
• Socialized the concepts with City staff and elected officials.
• Assisted the Gagnon family’s purchase of a closed Associated Bank branch, giving them control of one entire city block.
• Identified potential joint venture partners and negotiated JV agreement and assembled a team to undertake the redevelopment of the property.
