GREEN BAY, WI (WTAQ) – The group owned by Titletown Brewing Company and Smet Construction has signed a purchase agreement for the former Larsen Green site.
DDL Holdings, LLC, has agreed to a purchase agreement which can be extended for up to 5 years with DDL having to meet certain purchase milestones over time.
“We are very excited and proud to partner with the City of Green Bay in our continued effort to transform this part of downtown,” said Smet Construction Services President Paul Belschner in a statement. “We are still at the high-level planning stages for a multi-use development.”
The site, once thought to be home of a future Walmart Supercenter, now appears headed in the direction sought by a number of residents, local business owners and Mayor Jim Schmitt.
“The next step is we have to work on the economic development structure, work out a development agreement with the city,” said Titletown Brewing Company COO Jim Kratowicz. “We have a ton of momentum and a ton of interest, so we’re carrying that forward and we think we can do some pretty exciting things to create a really big destination area for downtown Green Bay.”
Kratowicz says they’ve been approached by interested parties for their mixed-use concept, including a hotel, residential, small grocer, retail, professional office space and recreational/entertainment venue.
“From a tax base standpoint, I think in the long run I think the city and community will be better off,” says Kratowicz. “But also from an experience standpoint for the citizens of Green Bay and what they can do downtown, and people when they visit the community they can have a destination in the downtown.”
DDL recently reached full capacity at the former Larsen Canning Building site, which has been redeveloped into Titletown Brewing Company’s new Brewery and Tap Room, the Cannery Public Market and the Titletown Professional Office Suites.
