Titletown Brewing Co. and Smet Construction to purchase Larsen Green Site

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GREEN BAY, Wis. (WFRV) – A multi-million dollar development is planned for the former Larsen Green Development site in downtown Green Bay.

That was among the announcements made Tuesday by Green Bay Mayor Jim Schmitt in his State of the City Address.

“This address marks my 12th city address, and it’s an honor to update you on the state of our city,” began Mayor Jim Schmitt.

With his 12th State of the City Address, at the historic Meyer Theatre, Schmitt touted a decrease in taxes for the third straight year, and a decrease in crime by nearly 13 percent.

However, many of Schmitt’s comments involved the evolution of the city.

“You know, we continue to see the momentum of economic development and business confidence in Green Bay, by taking a simple look at the figures. Nearly 7,000 building permits, representing $122 million in construction costs were issued just in 2014,” says Schmitt.

In 2015 you can expect to see more ground-breakings in Green Bay.

After a video tour of some of the major projects already underway, Mayor Schmitt made a much anticipated announcement.

“I am proud to stand here tonight to share that the Larsen Green Development site officially has accepted and approved, has officially accepted an offer, an approved offer,” explained Schmitt.

Donald Driver Holdings LLC, or DDL Holdings, LLC, an entity owned by Titletown Brewing Co. and Smet Construction Services, has entered into an agreement to purchase the nearly 16 acre parcel of land on North Broadway.

A mixed-use development agreement that’s value is much more than that of the proposed and rejected Walmart Supercenter.

“Just for the record, at the end of the day, Walmart was going to value at $9 million so we got a $30 million commitment from local investors, mixed-use development,” says Schmitt.

In July 2014, the Green Bay city council rejected a plan that would have brought a Walmart Supercenter to the property.

Early concepts of DDL Holdings’ include a hotel, residential, small grocery, retail, office space and recreational / entertainment venues.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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