The Oconomowoc Plan Commission took action Wednesday, March 12, that would allow for the development of The Gateway, a 42-unit apartment complex being proposed for the downtown area.
The commission unanimously approved the major design plans for the development, which is located near East Wisconsin Avenue, Collins and Silver Lake streets. Premier Real Estate Management recently revealed in site plans that the three-story complex would house 42 apartments, mostly two-bed/two-bath units. The development would also have an almost 20,000-square-foot underground parking garage with 58 stalls.
City Planner Jason Gallo had recommended approval, arguing that the project would be a “tremendous” addition to the downtown, bringing residents within walking distance of retailers in the area.
The commission also approved a land exchange agreement, though according to City Administrator Diane Gard, its more accurately described as a land transfer. The city is giving developers property at 121 and 131 Silver Lake Plaza, and property at 317 and 329 E. Wisconsin Ave.
The commission recommended that the city council allow five parcels at the development site be combined into a single parcel called 115 Silver Lake Plaza. That issue could be taken up by the council at its next meeting on Tuesday, March 18.