GREEN BAY, WI (WTAQ-WLUK) – Green Bay’s redevelopment authority discussed a plan Tuesday afternoon to build high-end apartments on the city’s northeast side.
The University Heights at Baird’s Creek apartments are proposed for the old Packerland Packing site on University Avenue.
Green Bay’s redevelopment authority says it wants more information and possibly a change in plans before approving a term sheet for the apartment project.
The $37 million development would create 374 new apartment units in 16 buildings over a five-year period. The developer is asking for up to $5.5 million in city assistance.
Todd DeVillers of TMD Properties, the owner of the land and developer for the project, spoke to WLUK.
“The market study indicated that this northeast side had a market demand for over 300 units”
Brad Hopp’s home is near the site. He told the Redevelopment Authority that a quick internet search turned up 250 open rental units within a few miles of the area’s zip code.
“Imagine being a homeowner in that area. What is that going to do to our property values just by adding more of that rental property?”
Alderman Joe Moore believes the land is at its marketing peak with the recent nearby addition of a Festival Foods grocery store.
He believes adding commercial elements to the project would maximize the 30-acre site.
“If it’s office, medical, dental, I think that also provides some services for that area, for people that currently live in the community as well”
“The east side has been neglected for a long time,” said DeVillers. “I think the Festival is going to be the catalyst for a lot more commercial development.”
The developers say they do have other area land they intend to use for commercial development in the future.
The Redevelopment Authority is expected to consider the term sheet again next month.
