Developer Tom Vandeyacht buys Schwalbach farm in Grand Chute but won't act for 5 years
GRAND CHUTE — Fox Cities developer Tom Vandeyacht has purchased the 72-acre property known as the Schwalbach farm at the northeast corner of Lynndale Drive and Northland Avenue.
Vandeyacht, operating as Versatile Real Estate Ventures, paid $3 million for the property, according to records kept by the Wisconsin Department of Revenue. He intends to build apartments on the land, though not for at least five years while he focuses on Bridgewood Luxury Apartments, his multifamily development in Neenah.
The Schwalbach farm had been in Vandeyacht's sight for the past four years.
"My plan is that it will be one beautiful apartment community with high-end apartments where people are moving out of their homes to move into the apartments," Vandeyacht told The Post-Crescent.
The property is zoned single-family residential, so the Plan Commission, Town Board and neighbors to the north might have something to say when the time comes.
Mike Patza, Grand Chute's director of community development, said that before anything is built on the property, there needs to be some community outreach and master planning done.
"There's a recognition that there's an existing single-family neighborhood there and that there will need to be some sort of transition between that and anything that's other than that, whether that's multifamily or commercial," Patza said.
Schwalbach farm is prime land for development
The Schwalbach farm stands as an island of farmland bordered by development: single-family homes to the north and west and businesses and industries to the south. Land zoned for industry and multifamily residences lies to the east.
From a planning perspective, Patza said the development of the Schwalbach farm will include a residential component, but it also could include some commercial development along Lynndale and Northland.
"The market is going to drive that to some extent," Patza said.
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A misconception in the community was that the Schwalbach brothers — Ed and twins Ray and Richard — had agreed to donate their property to St. Pius X Catholic Church in Appleton.
Vandeyacht learned that wasn't the case and saw an opportunity to purchase the property from Richard Schwalbach after his brothers had died.
Richard Schwalbach has full use of the land for five years, Vandeyacht said.
"He rents it to Fox Valley Tech, and he gets the proceeds from that, not me, because he has control over it for five years," Vandeyacht said.
Schwalbach wasn't interested in talking to The Post-Crescent for this story.
Vandeyacht's Bridgewood development will begin this year
Vandeyacht developed Lake Park Crossing Luxury Apartments and Parkside Luxury Apartments in Appleton and Pendleton Park Luxury Apartments and Cobblestone Creek Townhomes in Neenah.
He unveiled plans in early 2022 to redevelop the former Bridgewood Golf Course in Neenah as a 268-unit apartment complex called Bridgewood Luxury Apartments. Construction initially was to start in late 2022, but Vandeyacht said the permitting took longer than anticipated, and then unfavorable economic conditions forced additional delays.
"We're working on the numbers all over again right now," he said. "We do intend to break ground in spring."
Vandeyacht said contractors have moved more than 100,000 yards of material in preparation for the Bridgewood development. He anticipates the construction will be a five-year project.
Contact Duke Behnke at 920-993-7176 or dbehnke@gannett.com. Follow him on Twitter at @DukeBehnke.
This article originally appeared on Appleton Post-Crescent: Developer Tom Vandeyacht purchases Schwalbach farm in Grand Chute
