Brewery deal gets approved by RDA
Posted: March 3, 2017
The City of Eau Claire's Redevelopment Authority (RDA) approved a project for allow The Brewing Projekt to relocate its small brewery at 2000 North Oxford Avenue to a nearby building at 1807 North Oxford Avenue. The project to owner William Glass was to be for $250,000, but the size of the site exceeded the 50,000 square feet board members were comfortable with.
"The RDA signed and approved a lease agreement to purchase the building at 1807 Oxford Avenue and start to give him time to get his federal permits which he needs to move forward with the project," said City of Eau Claire Economic Development Specialist Mike Schatz, who added, "He needs the federal permits to relocate and has to have the federal approvals in place."
"What has had to do is to move the project more to the east side of the facility, which will give Mr. Glass more parking. That's where he has in turn said he gained more parking to the south and to the east. On Monday, the proposal he presented to us had more of a curved property line. That has been corrected," said Schatz, who added that the building is being sold for $250,000, minus the cost of the asbestos abatement costs. The deal is scheduled to close in July.
Mr. Glass and the RDA have been negotiating a deal for his small brewery to the larger 50,000-square-foot building for about a year. The agreement seemed close on several occasions since April, but each time details got in the way. The new brewery is expected to add at least $3 million in new property value and to serve as the first project in the redevelopment of the Cannery District, located along the west bank of the Chippewa River.
The brewery is expected to open in about 18 months, according to Glass. At Wednesday's special RDA meeting that was held at 3pm in the North Conference Room, RDA members said they must receive $5 per square foot for the project to ensure a fair price for taxpayers. Despite delays, RDA members said they wanted to finalize the agreement with Glass to allow brewery plans to proceed.
Glass added that he plans to start using the newly-acquired building for storage this week. He plans to pay $250,000 for the building, but will be required to pay the rest of the cost to cover what the asbestos abatement does not include. He said he plans to use much-needed space at his current brewery for making more beer. TBL