Tuesday evening, Wausau City Council approved a change in a development agreement for a riverfront project.
Quantum Ventures will take over as an investor for the Riverlife Villages along the east riverfront. The $20 million development includes apartments, condos and commercial real estate space.
However, the decision did not come without controversy and quite a few questions at the meeting.. Citizens and council members questioned the legitimacy of Quantum Ventures along with financial capabilities after a failed project in Green Bay.
Michael Frantz, President of Quantum Ventures, told the council that there's nothing to worry about.
"We've met all the development agreement obligations I think at this point," said Frantz. "If in fact I don't personally have the financial where-with-all to get it done I have a sphere of influence and investors that can make sure we can support this project and get it done."
Frantz said they've already secured apartment tenants and commercial leasing space.