MANITOWOC, Wis. (WFRV) A major development is coming to the City of Manitowoc in the River Point District.
The Manitowoc City Council approved a term sheet to sell 1.646 acres of land to Allie Family Companies.
The apartment building will be located on the southeast portion of the district, with North 10th Street to its east and the new “River Point Drive” being constructed to the south along the Manitowoc River.
Allie Family Companies plan to construct a 6-story, 81 unit apartment building called River North Apartments. The apartments will range in size from studios to 3 bedrooms and feature underground parking and views of Downtown Manitowoc, the Manitowoc River and Lake Michigan.
In 2018, the City purchased just over 20-acres of land adjacent to downtown and along the River, west of N. 10th Street, from Canadian National.
The city’s goal for the River Point District is to be an extension of Downtown Manitowoc with an emphasis on housing, commercial, restaurant and public access to the Manitowoc River.
In a statement, Mayor Justin Nickels commented on the latest news, “When we decided to make Downtown Manitowoc our focus a few years ago we had in mind 3 priorities: a destination for people to live, work, and play. I could go on and on about the tremendous growth we have seen over the past years for work and play, but getting people to live downtown is truly the greatest of those 3 priorities. To be able to add this amount of housing to downtown – while complimenting the other housing options added over the past few years – will truly be a game-changer for continued growth and development for businesses that want to relocate downtown and even more opportunities for public space and fun in our beautiful downtown.”
Construction is set to begin in the summer of 2021 with a completion date in the fall of 2022. The project cost is expected to be just over $14.3 million with a portion being financed with TIF.