GREEN BAY - More downtown living options could be coming for Green Bay. The city's redevelopment authority approved a planning agreement for a Middleton-based developer Tuesday afternoon.
This project will be at the corner of Washington and Main Streets.
Just last month, the committee approved planning deals for three other locations in the downtown area.
The developer, T. Wall Enterprises, hopes to break ground in August and start construction by the fall.
But there are some details that must still be hammered out, a big one being money.
The city's RDA gave the green light for T. Wall Enterprises to start the planning process to put up apartments at the corner of Washington and Main Streets.
"I think it's good to choose a product like apartments that we can actually execute on and get the project built," said Terrence Wall, president of T. Wall Enterprises.
The city asked Wall to look at developing a seven story building at the old Admiral Flatley Park site.
Preliminary plans would put a nearly $10 million, 85 unit building along the river. Rent would range from $550 to $950 a month, and would include one and two bedrooms apartments and studios. Retail and business space would take up about 7,000 square feet on the ground level. As well as two levels of underground parking.
The site may be better known for the failed 17 story Astor Place condo development, which was part of the WaterMark project.
"The world changed when the economy went into the great recession and apartments are very good. Strong market right now in most cities, including Green Bay," said Wall.
"The city took back ownership of this site," said Green Bay Mayor Jim Schmitt.
Mayor Schmitt says the he's optimistic about bringing Wall in for the project.
"The market is out there, the studies have shown that we lack a minimum of 300, market-rate residential housing units in downtown," said Schmitt. "We're excited about getting a very strong development agreement together with him, and most importantly, this breaking ground this year."
Wall will have to go through multiple meetings with the RDA and have plans approved by the city council.
The city says Wall has requested significant tax help to get the project built.
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