APPLETON, Wis. (WFRV) — Changes are coming to Downtown Appleton after one newly announced development project and one proposed project.
The first will be a mixed-use commercial and residential building that will replace a vacant building that was owned by Lawrence University on East College Avenue next to the History Museum at the Castle.
Tadych Investment Partners, LLC plans to demolish the building and redevelop the site as a six-story, mixed-use project with 28 apartments and approximately 2,600 square feet of commercial/retail space fronting College Avenue.
The goal is to start construction early next year and is expected to be ready for tenants by early 2021. Tadych Investment Partners expect to invest more than $7 million in the project.
Secondly, Fore Development is proposing to bring a $6.2 million, 36-unit, urban multifamily project, focusing on efficient unit layouts and tenant space for residents and guests.
The project would include tearing down the three properties behind Heid Music at the corner of East Washington St. and North Durke St. The three properties are home to the Appleton Rock School, a residential building and an office building.
Fore Development has worked with the existing tenants to aid in relocation efforts and plan for a smooth transition.
Each developer has requested a developer-funded pay as you go TIF incentive of the future value created via Tax Incremental Financing from the City to assist in the project.
The requests will be taken up in the Community & Economic Development Committee on May 22nd at 4:30 p.m.