Construction for River life village development hits a snag - WAOW - Newsline 9, Wausau News, Weather, Sports

Construction for River life village development hits a snag

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WAUSAU, Wis. (WAOW) -

Construction for the 20 million dollar housing project on the Riverfront has hit a snag, due to unpaid bills to the builders.

Newly filed court documents obtained by News 9 show that Samuel's Group, the prime contractor for the project wants Quantum Ventures to pay it's bills.

According to the court documents Quantum Ventures, the investors in the project, owe Samuel's Group a total of $2,092,780.45 with a 12 percent interest being charged.

Residents are saying the pause on the construction is disappointing.

"We have been very pleased with how this has been coming along. Finally after all these years of living in Wausau and it's kind of disappointing to know it's coming to stand still for a while," said John Webb a long time Wausau resident.

Developers said River Life Village along the Wisconsin River will include new condos, apartments and retail space.

"The river is a beautiful feature of this town and is a essential feature of this town for it's history," Webb said.

Court documents show one sub-contractor working on the project, sent letters to the city at the end of April, seeking $1,785,885.49.

As the city figures out what actions to take next, a statement from Mayor Robert Mielke said the city will take whatever steps needed to protect the hard working construction companies. 

Mile Frantz, a leader of Quantum Ventures said financing is still being worked out and he is committed to getting the project done,

However, Samuel's Group responded back to News 9 stating construction is at a complete halt until they receive their payments.

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