A Unique Approach to Fund Community Spaces: New Richmond Community Library Case Study

Mixed-use developments supported by public-private partnerships (PPPs) have the power to redefine small to mid-sized communities. By offering a unique funding solution, challenges like housing shortages, infrastructure requirements, and community space revitalization can be addressed.

This partnership approach was applied to the New Richmond Community Library development in New Richmond, Wisconsin. This visionary initiative blends public and private investment and once complete will deliver a dynamic, multi-purpose space that benefits residents, businesses, and the local government.

A Project Decades in the Making

The future of the community’s library and other public spaces was an ongoing conversation between the City and public for nearly 30 years. After the City was gifted land by the School District of New Richmond, their dream came into fruition with the opportunity to create a new library and mixed-use development.

To make it feasible, the City of New Richmond pursued a PPP, recognizing that collaboration with a private developer would be critical in addressing financial and operational challenges and meeting project goals.

To bring the project to life, the City selected Three Sixty Real Estate Solutions, a dynamic leader in property management, development, construction, and investment. Having partnered with I & S Group, Inc. (ISG) on successful mixed-use and PPP efforts, Three Sixty sought ISG to drive the design for this impactful project.

Design began in 2022, and after navigating significant hurdles like inflation and rising interest rates, the New Richmond Community Library broke ground in September 2024.

Additional Project Details

• Read more about the project in this previous blog by ISG and on ISG's portfolio.
• Learn more about the library on the New Richmond Community Library’s website.
• Check out the new housing available through the development, now available for leasing, on Archway Residences’ website.

PPP Benefits

The New Richmond Public Library’s ground-up effort demonstrates how PPPs and mixed-use developments can deliver exceptional value to all stakeholders:

Public Benefits

• Modernized Community Amenities: The new library will offer state-of-the-art facilities, shared public spaces, and improved accessibility, ensuring it meets the evolving needs of the community.
• Long-Term Financial Sustainability: By integrating private development into the project, the City gains new tax revenue from the mixed-use site, which supports library funding and other municipal services.

Private Benefits

• Shared Development Costs: Developers often face financial constraints when building in smaller communities. By partnering with the City, initial costs for infrastructure and site preparation were shared, making the project more viable.
• Added Community Appeal: The inclusion of community-focused spaces enhances the property’s marketability, creating a win-win for developers and residents.

Ready To Start Your Journey?

The New Richmond Community Library redevelopment serves as an inspiring blueprint for other municipalities considering PPP and mixed-use projects. Consider the following if your community is ready to take the next step:

Plan Roles + Responsibilities Early: Clear frameworks and planning processes ensure all parties understand who owns, manages, and operates each aspect of the development.

1. Plan Roles + Responsibilities Early: Clear frameworks and planning processes ensure all parties understand who owns, manages, and operates each aspect of the development.
2. Leverage Public-Private Partnerships: These arrangements can make transformative projects financially feasible, especially in smaller communities.
3. Emphasize Community Impact: Promote how the development benefits residents and help build public support and pride in the project.
4. Engage Stakeholders Throughout: From City officials and developers to community members and facility users, open lines of communication are vital for overcoming challenges and building momentum.
5. Build A Strong Team: Working with an experienced developer and design team they trust with mixed-use and PPP experience will create an effective project process.

Are you ready to explore how mixed-use development can transform your community? Contact us today to learn more about how ISG can help bring your vision to life.