weather

61°

Clear | 5MPH

NEWSROOM * CIRCULATION * ADVERTISING

CONTACT US MANAGE ACCOUNT SUBSCRIBE

Wednesday

August 2014

20

Vespera at Porticello granted extension

Developers: We're using own money to keep it alive

City of Oconomowoc — A large pile of dirt seemed to be the main concern during recent hearings over lagging residential development Vespera at Porticello. Regardless of the dirt, the Common Council on Tuesday approved a five-year extension on the planned development for the project that - like many others - has been the victim of the economy.

The original plan for the high-end condominium development was approved in 2006, but it went through a hiatus after former builder Icon Development Corp. Chief Executive Officer Jeffery Klement filed bankruptcy last year. That, teamed with the housing market's struggles, didn't help the planned development of two-story $1million condos.

Since Klement left the project, two men, Don Johnson and Ray Schultz, have taken over the project, working to help it achieve success. The two developers don't want to see the project fail; to keep it going, they have been investing their own money it to keep it alive.

A neighboring resident to the development spoke at the hearing complaining of a large dirt pile and silt fence that he can see from his back window. He said the area is in disrepair, and "looks like the city dump," adding that it's a disgrace to neighboring properties and their value.

During a Plan Commission meeting on the planned development extension, it was determined that the developers will work with the state Department of Natural Resources (DNR) to relocate the dirt to the beach area. The dirt was originally intended to be used for beach restoration as part of the project, but the developers must get approval from the DNR before following through with that. Johnson, who was at Tuesday's meeting, said that until the DNR approves this and things thaw out, the dirt will likely have to remain piled up.

Alderman James Larsen asked if a date on the dirt's relocation could be added to the planned development for approval. But Johnson objected because of extenuating factors such as the weather and DNR approval that could conflict with a specific date.

Mayor Jim Daley said that the developers should be commended for their continued commitment and investment in this project and their word that the dirt will be taken care of soon is enough.

The extension passed unanimously, giving the planned development until Jan. 3, 2016.

Johnson said he anticipates progress in the development picking up this year. Recently, Shorewest Realtors Associate Vice President Rebecca Sprague announced that she had closed on a single-family unit there, leaving only two original shells constructed by Icon that have completed exteriors but unfinished interiors.

The new plan is to have Delafield's Robert Loepfe Inc. Custom Builders take over the project. She said once the original shells are gone, the six remaining units are sold, Loepfe will start building standalones or custom-build homes. She said the standalones are a single-family village that would also allow for a side-by-side.

The price has also been knocked down. Sprague said in a previous interview the plan is to start the units at about $600,000. Previously, the units started at $1 million. The real estate agent, who has 20 years of experience in the housing market, said she does see an uptick in sales. Sprague said sales at Shorewest at the end of last year were up 80 percent over 2009.

This site uses Facebook comments to make it easier for you to contribute. If you see a comment you would like to flag for spam or abuse, click the "x" in the upper right of it. By posting, you agree to our Terms of Use.


Living Lake Country

E-mail Newsletter

Top stories from the Lake Country area. Tuesday afternoons and Thursday mornings.


Enter your e-mail address above and click "Sign Up Now!" to begin receiving your e-mail newsletter
Get the Newsletter!

Login or Register to manage all your newsletter preferences.
Tools
TEXT SIZE
Lake Country Construction Guide

 

Consruction season is underway in Lake Country and

we've got you covered when it comes to street closures and delays:

Mukwonago area projects

Sussex, Menomonee Falls area projects

Kettle Moraine area projects

Greater Lake Country area projects

 

Community Pride 2014

  

Celebrate Lake Country 

communities with stories

of community pride

 

 

 

 

 

 

 

Rummage Router
Just click to find a rummage near you
Your Photos
Tonia Lilienkamp - Hartland , WI
Community Blogs

Lake Country residents share their views on news, happenings and current events.

Cook's Corner
By Cynthia Acosta Luksich
It’s 5 o’clock somewhere: Bourbon Slush

It's Hemmer Time
By Amy L. Geiger-Hemmer
Obama bein' Obama

Bernie Ziebart

The Engineering Perspective
By Bernie Ziebart
ISIS

Fair E-tales

Until next time

"Hear's" to Life!
By Tami Klink
October Conference for Hearing Loss!

LivingLakeCountry.com features more than a dozen community bloggers - a group of volunteer conversation leaders who are up on the latest topics and never short on an opinion. Just a few are pictured here. Check out the rest and see what they have to say!

View All Blogs

Discussion Guidelines

Do you want to become a Community Blogger? LivingLakeCountry.com welcomes your thoughts and opinions. Contact us for more information:
I want to blog

Legal Notices
Back to top