GREEN BAY, Wis. (WFRV) – With the high demand for housing in the area, the City of Green Bay is working diligently to partner with developers who are addressing the need for affordable housing.
In an already tight housing market, the city continues to find ways to meet growing demand. In the next year, the city expects to welcome more than 300 units of affordable housing by the summer.
William Peters, Neighborhood Development Specialist for the City of Green Bay, told Local 5’s Samantha Petters that they are very thankful to all the developers and partners that have helped, saying it really is “a community effort.”
“Fortunately, we’ve had a few partners that have been working closely with us both in the community and developers from outside of the area that have seen and heard the cry for more housing in the area,” said Peters. “That can be seen out on Walnut Street with City East Apartments, which will create 36 units of affordable housing, Bay City Lofts out on University Avenue with Gorman and Company, which will add 48 units of affordable housing, and then also noticeably on the Green Bay skyline downtown is the TWG Development and that’s going to add 223 units.”
Another project that is working to bring affordable housing to Broadway in downtown Green Bay is the building located at 240 North Broadway Street attached to Copper State Brewing Co. Garritt Brader, Principal of GB Real Estate Investments, purchased the property in May of last year and plans to have tenants moving in this weekend.
“This project is designed where really it’s available to anyone as long as one does not spend more than 30% of gross income in rent,” said Brader. “We actually have four different price points. we have a studio unit at 600 bucks a month, and then we have units at $899, $949, and $999 a month.”
Brader said his hope for projects such as this is to preserve the buildings for their historic value and make them an affordable place people are able to call home.
“The hope was to truly save this building, to keep the building around for another 100 years, but you also want space that has that ground floor retail component active that people, when they drive by or walk by, see open signs and doors in and out of service businesses,” said Brader. “It helps liven an entire neighborhood, making people want to live here as well as shop and dine and hang out here.”