A 154-unit apartment development is credited with boosting real estate investment and vibrancy in a previously underserved area of Wisconsin.
Falcon Ridge Apartments added two residential buildings near the intersection of Phoenix Street and Faryl Avenue, the largest project of its kind in Delavan, Wisconsin, in years.
Teromomy Builders' project is credited with diversifying Delavan’s housing stock while also boosting nearby businesses, with the potential to stimulate more real estate development.
It was approved by the City of Delavan Common Council as part of broader redevelopment initiatives.
The Falcon Ridge project was selected by a panel of real estate professionals as the 2026 CoStar Impact Award multifamily development of the year for Milwaukee/Madison.
About the project: Rental units range one to four bedrooms, making it accessible to a range of family sizes and income levels.
Amenities include a fitness center, a community room, an outdoor patio with grills, walking trails, playground and picnic areas.
What the judges said: “Falcon Ridge Apartments is impactful because it delivers much‑needed modern housing at a scale Delavan hasn’t seen in years, adding 154 units that serve a wide range of residents,” said Ashley Stilwell, transaction manager at Colliers. “Its location along the main commercial corridor brings new households to the area, boosting foot traffic and supporting local businesses. The project strengthens the city’s redevelopment efforts, increases economic activity, and provides high‑quality housing options that help attract and retain residents — making it a meaningful contribution to Delavan’s growth and vitality.”
They made it happen: The architect was Jendusa Design & Engineering. The property is managed by Teronomy’s Liz Sanchez, Brian Hinzpeter and Heather McKinney.