APPLETON, Wis. (WFRV) — The historic Post-Crescent building in downtown Appleton is set to become an apartment building, according to the Appleton City Hall.
Work is expected to begin next year when the building will be remodeled into a new $12 million housing project.
The Crescent Lofts will consist of 69 apartments with a mix of one, two, and three-bedroom apartments.
City Hall says the development is a WHEDA historic tax credit project, with 58 of the 69 planned apartments reserved for low-to-moderate income levels.
Officials say low-moderate income housing is defined as a family of four making less than $45,180 per year.
Andy Dumke and Cal Schultz of Northpointe Development Corporation, the company responsible for the Woolen Mills Lofts along the Fox River, are the developers of the Crescent Lofts.
The business told Local 5 the exterior of the building will largely stay the same, but some additions will be made to allow for space to complete the apartments.
City Hall says the Crescent Lofts project will join Eagle Flats and Union Square apartments as prime riverfront or downtown living options geared to low-moderate income residents and families. These projects total more than 200 apartments downtown.
The Post-Crescent building was nominated to be listed on the National Register of Historic Places by the developers.
NorthPointe Development expects approval of a request for federal historic tax credits to help fund the project.
Cal Schultz told Local 5 in a phone interview they expect construction to begin in 2020. Schultz also expects applications to be available in 2021.