July 31st 2024

SITUATION

For well over a decade the city of Janesville had not seen the construction of even
one multiple family property. That all changed when Coldwell Banker Commercial
McGuire Mears & Associates began marketing the 43.52 acres of land owned by
the Ryan family. In collaboration with the city council the policy of only offering TIF
for downtown projects was successfully changed. Armed with TIF we negotiated
a sale with Hovde Properties that resulted in two hundred and eighty units on
11.57 acres now known as The Glades.

ACTION

With the tax increment financing window soon to close on the remaining Myrtle
Way acreage the team of Adam Shultz and Bill Mears re-engaged
with ownership and the Hovde team to successfully negotiate a second
purchase by Hovde Properties of an additional 14.68 acres across the
street. This resulted in an additional two hundred and nineteen more
multiple family units currently under construction bringing the total to four
hundred and ninety nine units.

RESULTS

•  11.57 acres sold for development
•  The Glades - 280 multi-family units built
• Myrtle Way built from Racine access road to Delavan Dr
• 14.68 additional acres sold for development
•  Idylwood - 219 multi-family units built

"Bill came to us several years ago with the idea that our family’s land would be an ideal
area for multiple family development. We weren’t even in the city limits but with Bill’s
leadership we put the property on the market, annexed it into the city and even built
Myrtle Way as a through street. The the rest is history."

- Tom Ryan, Seller