Economy and supplies lead to holdup for residential project to replace old Kmart in La Crosse
Inflation and supply chain problems are being blamed for some of the delays holding up the Copper Rocks development in La Crosse, where the old Kmart was located.
Kmart closed in 2017.
Jeremy Novak from Three Sixty Real Estate Solutions in La Crosse said planners expected Copper Rocks to move ahead quickly, when the project was announced in January of 2022.
“We had every intention of moving things forward, after that meeting,” Novak told the La Crosse Redevelopment Authority on Thursday, “and our intent was to break ground last summer.”
Novak told WIZM back in January of 2022 that Kmart was expected to be demolished last summer.
What has caused the holdup?
“Inflationary impact on materials and costs of building materials has been significant,” Novak said, “as well as interest rates now have jumped up in the last 12 months.”
Novak added that demolition of Kmart and a groundbreaking for Copper Rocks is now expected some time this year but a schedule will be more definite after funding has been secured.
The developers are applying for grants from La Crosse County, and state government.