NEW RICHMOND -- New Richmond has released the names of the three firms in the running to redevelop the Beebe property located downtown at the corner of Knowles Avenue and West Third Street.

The city initially released a request for qualifications in January. Five firms responded to the initial RFQ. A series of interviews with city officials and members of the Forward New Richmond Committee has narrowed the field to the three remaining firms.

“There is a premium in this process on short- and long-term relationships. Things happen all the time in development. We want to have somebody who is willing to stick with it,” City Administrator Mike Darrow said.

As far as the focus of the project …

“I’ll say that the focus from all three, although it is different, is housing as a major component. What’s next is allowing the community to potentially get to know these folks. I’m not sure what’s going to work best. We clearly want this to be a success but we are not tied to these three options. We’re not on a timeline to say, ‘We’ve got to pick one of these three,” said Darrow.

The Beebe Building consists of a two-story 32,838-square-foot building and a 36-by-79-foot warehouse which occupy a half acre location consisting of two parcels: 307 S. Knowles Ave. and 126 W. Third St. The building dates back to 1899 and has at various times in its history been home to a drugstore, mortuary, furniture store, hotel and cafe.

The three firms the city is considering are:

• Gerrard Corp., a family-owned business headquartered in La Crosse.;

• American Property Development Group, owned by New Richmond native Greg Van Dyk: and

• hometown builder Peterson Group.

Gerrard Corp. is led by brothers and co-founders Peter and Paul Gerrard. Their father, M. William Gerrard, opened a real estate brokerage firm in La Crosse in 1954 setting the family on its path in the real estate development, management and construction industry.

Company President Peter Gerrard works primarily on the development and construction management side of the business while Vice President Paul Gerrard focuses on the property management side of the real estate development business.

Gerrard Corp. is responsible for the development and management of more than 2,135 housing units across Wisconsin, Illinois, Minnesota, Iowa, South Dakota, Montana, and Wyoming including projects in Hudson, North Hudson, River Falls and La Crosse.

Their plan for the Beebe property calls for demolition of the existing buildings and construction of a new senior housing apartment complex consisting of 40 plus housing units with several amenities, community space and on-site parking. To learn more about Gerrard Corporation, visit gerrardcompanies.com.

American Property Development Group is owned by New Richmond native Greg Van Dyk and Seattle native Stefanie Van Dyk. The couple own commercial and residential properties throughout the United States including New Richmond. The ADP Group is a member of the New Richmond Area Chamber of Commerce and the New Richmond Area Economic Development Corporation.

The Van Dyks plan to unite their passion for historic buildings, strong analytical background, various architectural ideas and their love of New Richmond in “The Lofts at Beebes.” “The Lofts” would renovate the existing building by enhancing its historic features while updating the interior with modern upgraded amenities. The project would create 15 high-end loft-style apartment units along with main floor commercial space facilitated by an innovative public-private partnership with the City of New Richmond.

New Richmond natives Jamyn and Liz Peterson own and operate the Peterson Group. They have extensive design and build experience in both the residential and commercial market including historical rehabilitation/restoration projects in the New Richmond area.

The Peterson Group plans for the Beebe property calls for restoration of the existing building to create co-working space along with street level commercial space to house a coffee shop/wine bar, fitness space and higher end loft apartments on the second floor. Co-work space would offer professional office and work space to small business owners, entrepreneurs, and individuals who work remotely. The space would be designed to act as a hub for local commerce showcasing local talent, attracting new talent to the community while encouraging ideas, collaboration, innovation, networking and productivity. To learn more about the Peterson Group visit Jpcastles.com.

The city has prepared a document with more information about each of the three firms and their ideas for the Beebe Building. It is available at www.newrichmondwi.gov. The city will be producing a podcast featuring each of the three developers available on its website and social media platforms the week of Aug. 12.

New Richmond is currently in the process of reviewing the financial information for each proposal. If you have questions about the process, please contact Darrow, city administrator, at 715-246-4268 or mdarrow@newrichmondwi.gov.

The city is still looking for citizens who might be interested in participating in the next steps of the interview process with the three finalists. If you are interested in participating, contact Darrow.