Post 7 of 7 in our “Behind the Build” series
Over the past six posts, we’ve walked through much of what goes into getting a major development off the ground: what entitlement means, how zoning works, why housing supply matters, where $60 million comes from, and how tools like TIF can help make redevelopment possible.
For our final post, we’re looking at one ingredient that affects nearly every part of that process:
Time.
Time Isn’t Neutral
Here’s something that surprises people: a development project isn’t like a parked car, waiting patiently until someone turns the key.
It’s more like an airplane circling the runway — it continues using resources while it waits to land.
While a project moves through planning, approvals and financing, a lot continues happening behind the scenes:
Carrying costs. Property taxes, insurance, professional services and financing costs continue even while a property isn’t producing revenue.
Construction costs change. Material and labor pricing doesn’t stand still. As time passes, estimates may need to be updated, bids can expire and project costs can change.
Interest-rate exposure. On a project financed with tens of millions of dollars, even relatively small changes in borrowing costs can have a meaningful impact on the overall project budget. Until financing is finalized, that risk remains.
Contractor calendars fill up. Construction teams schedule crews and subcontractors well in advance. Missing a construction window can mean more than a few weeks of delay — particularly in Wisconsin, where seasons matter.
Programs have deadlines. State and federal programs, grants, loans and other financing sources often have defined application and closing schedules. A project timeline has to coordinate with those schedules, too.
There is also a community cost to waiting. Until redevelopment occurs, a site isn’t providing the new housing, economic activity, construction jobs or additional property value that the completed development can create.
In Wisconsin, net new construction also plays a role in determining how much a municipality’s property-tax levy can grow under state levy limits. In other words, new development doesn’t just change a property — it can contribute to a community’s future capacity to fund local services.
What Strong Public-Private Partnerships Have in Common
Speed shouldn’t mean cutting corners.
Public hearings, engineering review, design standards, financial analysis and negotiated development agreements all serve important purposes.
The goal isn’t necessarily less review. It’s coordinated review.
Large developments involve a lot of moving pieces, both inside and outside City Hall. Productive development processes tend to have a few things in common:
Clear communication. Developers understand who is coordinating the process and where questions should go.
Early alignment. Planning, Engineering, Legal, Finance and other departments identify major requirements as early as possible so teams can work through them together.
Predictable timelines. Developers, lenders, contractors and public agencies can plan around requirements when they understand the process and expected timing.
Coordination. Wherever possible, different parts of the review process move forward together rather than waiting for one step to completely finish before another begins.
That predictability matters because development is interconnected. A change in one part of the schedule can affect financing, construction pricing, contractor availability and program deadlines somewhere else.
Good coordination doesn’t eliminate scrutiny.
It makes the scrutiny work better.
And when communities develop a reputation for clear expectations, strong communication and predictable execution, it creates an environment where developers, businesses and other partners can make long-term investments with greater confidence.
Where This Leaves Us
We’re optimistic about La Crosse.
You don’t pursue a project of this scale in a community you don’t believe in.
This region has tremendous assets: its location, institutions, workforce, neighborhoods and character. The housing need is real, redevelopment opportunities exist, and communities have tools — from zoning and TIF to state programs and public-private partnerships — to help turn challenging sites into productive ones again.
If there is one thing we hope readers take away from this seven-part series, it’s that development isn’t one decision.
It’s hundreds of decisions made by property owners, developers, engineers, architects, lenders, contractors, public officials, staff and community members — often over several years.
Understanding that process makes it easier to participate in it.
Attend a Plan Commission meeting. Read a development agreement. Ask questions about how a project is financed. Learn what TIF actually does. Pay attention to how your community plans for housing and growth.
Because the more residents understand how their city grows, the more meaningfully they can participate in shaping what comes next.
And the next time you drive past the old Kmart site on State Road, picture something different:
247 front doors.
Homes where there are none today.
That is what all those plans, meetings, numbers, approvals and timelines are ultimately about.
Three Sixty Real Estate Solutions, LLC is the developer of Copper Rocks. This concludes our seven-part “Building La Crosse” series. You can find all seven posts here.