A McFarland developer has again scaled back the number of townhouse-style apartments it plans to build on Autumn Wood Parkway in Deerfield.
Representatives of Lakestone Properties on April 26 told a special meeting of the Deerfield Village Board and Plan Commission/Economic Development Committee that the Autumn Wood Apartments are now proposed to consist of 5 buildings with 11 units each, for a total of 55 market-rate apartments.
That’s down from 60 discussed in March and 70 proposed initially.
Brian Spanos and Brett Reiman, of Lakestone Properties, said the change was based on input from an architect who felt the buildings would fit better on the site with fewer units.
Reiman and Spanos also said studio apartments will no longer be included. Each building will now have 4 one-bedroom, 6 two-bedroom and 1 three-bedroom unit.
The buildings will be townhouse style to fit into the surrounding residential neighborhood, and each unit will have its own garage and a private entrance, they said.
Following a lengthy closed session with its attorney, to discuss the feasibility of the apartment project and the creation of a new tax incremental finance district that will encompass it, the village board voted to begin working on a developer’s agreement with Lakestone Properties and to direct its financial advisor, Ehlers, Inc., to proceed with the creation of the new TIF district.
TIF district #7 would essentially replace the village’s TIF district #4, over the same geographical footprint that includes a strip mall with the Pickle Tree restaurant and Brown’s Heating and Cooling and the site on Autumn Wood Parkway that Lakestone Properties wants to develop.
The TIF district’s creation will ultimately require final village board approval and approval from a joint review board with representatives from the village, Deerfield school district, Dane County and Madison college.