A conceptual rendering of the Confluence Project's student housing/mixed use complex,
which will now be funded with private money. (Image courtesy of SDS Architects)

Haymarket Concepts, LLC – the group behind the Confluence Project – has announced the student housing and mixed-use portion of the project will now be exclusively privately funded, as opposed to being substantially funded through UW-Eau Claire and the state as previously planned. This will lower the amount requested to the state by about $30 million for the project as a whole. Despite the change, the building will still be primarily used as apartment-style student housing for UW-Eau Claire, though the ground floor is still intended to have commercial and retail components for the whole community.

In a press release, Haymarket Concepts said the private student housing "reflects a national trend and will simplify the more complex funding associated with the entire Confluence Project."  Presumably the arts and education building will still be funded by the state of Wisconsin, along with private donors and other fundraising efforts.

In theory, with the mixed-use portion of the project being privately funded, the city should be able to collect considerably more taxes on that part of the property – which might ease the minds of critics who were concerned about the city losing taxable property in downtown.

More information about this decision will come at a May 13 City Council meeting where Haymarket Concepts will update the council on the project.

Above: the building labeled "Mixed-Use Development" is to house UW-Eau Claire students.
(Image courtesy of SDS Architects)