APPLETON, Wisc. – A new mixed-use commercial and residential building will replace a long vacant building on East College Avenue next to the History Museum at the Castle.
Tadych Investment Partners, LLC, a private real estate development company owned and operated by Jason Tadych, announced a purchase agreement Friday for the Lawrence University-owned property at 320 E. College Avenue. The site currently is vacant and not in active use by Lawrence University.
Tadych Investment Partners intends to demolish the existing 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. Thirty parking stalls will be built behind the new building.
Developers will begin design work immediately, with the goal of starting construction early next year. The project is expected to be ready for tenants by early 2021. Tadych Investment Partners expects to invest more than $7,000,000 in the project.
The developer is requesting a developer funded pay as you go TIF incentive of twenty percent (20%) of the future value created via Tax Incremental Financing from the City to assist in the project.
Fore Development is also proposing to bring a $6.2 million, 36-unit, urban multifamily project to downtown Appleton, commencing late Summer 2019.
The project focuses on efficient unit layouts and tenant amenity space for residents and guests to enjoy. The development meets one of the objectives of the City’s comprehensive plan to increase the quantity and variety of housing product offered downtown.
The project encompasses three properties directly behind Heid Music at the corner of E. Washington Street and N. Durkee Street. The properties at 309 E. Washington, 118 N. Durkee, and 122 N. Durkee are currently home to the Appleton Rock School, a residential building, and an office building.
Both projects come on the heels of a comprehensive study done by the city which included a survey where 52% of respondents said they are interested in living downtown.