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Blugold Real Estate enters agreement to purchase Water Street apartments

The following was announced today by the University of Wisconsin-Eau Claire Foundation:

The Blugold Real Estate Foundation, a supporting organization of the University of Wisconsin-Eau Claire Foundation, has entered into an agreement with developer John Mogensen, Lisa Aspenson and Michelle Mogensen to purchase the apartments being constructed at 222 Water Street, directly across from the Human Sciences and Services (HSS) building on the UW-Eau Claire campus.

Once the purchase is final, Blugold Real Estate intends to rent the apartments to UW-Eau Claire students. The building is designed to house 201 occupants.

As part of the purchase agreement, Blugold Real Estate has applied for a conditional use permit from the city of Eau Claire. The conditional use permit would alter the location of parking for apartment residents. Current plans call for construction of new parking at the corner of Chippewa Street and Third Avenue. The conditional use permit requests that parking for apartment residents be provided in designated parking spaces in the existing UW-Eau Claire HSS and Water Street parking lots. Blugold Real Estate would purchase annual parking permits from the university for use by apartment residents.

Blugold Real Estate’s purchase agreement is for all apartments and associated underground parking in the building being constructed. The first-floor retail space would be owned by developer John Mogensen's group.

Blugold Real Estate has requested the conditional use permit be considered by the Eau Claire City Plan Commission at its meeting on April 17.

For additional information, contact Kimera Way, executive director of the Blugold Real Estate Foundation, at 715-836-5180 or waykk@uwec.edu.