The possibility exists that the vacant Villa Apartments in New London might be redeveloped.
Towards the end of a recent Economic Development Committee and Planning Commission meeting, Todd Hutchison, owner of ABC Development, who is also associated with Impact Seven and Wisconsin Redevelopment, asked the members of the committee what their thoughts were regarding the redevelopment of the Villa Apartments.
Hutchison said he was considering redeveloping that property, along with another piece of property in New London to create tax assistance housing. He said he needed two properties to utilize a tax credit program.
In a follow-up interview, City Administrator Kent Hager said the Villa Apartments have been vacant for around three years. He said the Villa Apartments had an issue with asbestos and the owner lost the property to the bank.
“They cleaned it up and have been trying to sell it,” Hager said. “Something hopefully will happen with it, otherwise the longer it sits, the more likely it’s going to fall apart.”
Those in attendance at the committee meeting were interested in Hutchinson’s ideas for the Villa Apartments.