RIVERFRONT GAMBLING

Ashwaubenon bets on Fox River developments

By Rebecca R. Konya

The Ashwaubenon Boardwalk Office Complex, a collection of three office buildings overlooking the Fox River, brings much needed Class A commercial space to downtown Ashwaubenon. The first building was completed in spring, and construction on a second office could begin in late fall. Renderings courtesy of C.S. Smet Construction Corp.

Nearly a decade ago, the village of Ashwaubenon identified riverfront development as a top priority.

Today, the shores of the Fox River are home to a flurry of construction activity, including the Ashwaubenon Boardwalk Office Complex. Scott Smet, president of C.S. Smet Construction Corp., De Pere, and a member of Ashwaubenon Boardwalk LLC, a local group of investors who banded together for the commercial real-estate venture, said a lack of large commercial space drove the project.

"There's virtually no Class A space in Ashwaubenon," he said.

The Ashwaubenon Boardwalk Office Complex is part of a larger, $43 million mixed-use project that will ultimately occupy 24 acres around the village's waterfront north of state Highway 172.

The first of three office buildings is completed, and Merrill Lynch took occupancy in late June. A contract with a second tenant to take the remainder of the building is pending.

And with a potential tenant seeking occupancy in September 2005, construction of the second office building could get under way this fall.

The mixed-use development also will include condominiums along the river's edge at the former Lakeside Marina. Street and infrastructure improvements are nearly complete, and construction should begin in September.

"The four-unit condos will be ready for the annual builders showcase in February," said Smet, referring to the Spring Preview of Homes sponsored by the Brown County Home Builders Association. There are 37 total units planned.

Elsewhere in Ashwaubenon, construction is progressing on Shoppes at the Village, a 175,000-square-foot lifestyle center located south of 172 between South Oneida Street and Holm-gren Way. Midwest Expansion LLP, Ashwaubenon, broke ground on the project in May. The upscale, open-air mall will be phased in over three years, according to Mike Maedeke, vice president of leasing.

Although Midwest Expansion has yet to announce any retail tenants, the development will include six buildings of 30,000 square feet to 40,000 square feet. The total project is estimated at $25 million.

Farther down on South Oneida, a Best Buy, PETsMART and Bed, Bath & Beyond are going up on a 6.4-acre parcel that once housed a Coca-Cola Bottling factory. Al Vincent, a broker with Nifong Realty of Ashwaubenon, said he anticipated the development will be open for the holidays.