APPLETON, WI (WTAQ-WLUK) – The Appleton Post-Crescent building is a slice of history in a modern downtown. But now, this old building will be housing new people.
It’s set to be remodeled into a $12 million housing project.
Developers hope to start construction next year and anticipate the project being done in early 2021, according to NorthPointe Development Corporation.
City of Appleton Communications Coordinator Chad Doran tells FOX 11 there will be 69 apartments in total, and 58 of those will be for people with low to moderate incomes.
The city defines a low to moderate-income as a family of four that makes less than $45,180/year.
The developers nominated the Post-Crescent building to be listed on the National Register of Historic Places.
Doran says they are expecting federal historic tax credits to help fund the project.
“It’s a historic tax credit and WHEDA (Wisconsin Housing and Economic Development Authority) tax credit project, so that’s what allows the developers to create the low income-moderate income portion of this development.”
Developers plan to reserve the history of the building, according to the president of NorthPointe Development Corp. Callan Schultz.
“We’re going to preserve it under the standards of the National Park Service. With the historic requirements.”
This will be the fourth low-income housing project in Appleton. Doran says these projects total more than 200 apartments.
“Downtown housing is something that we identified a couple of years ago in our comprehensive plan that we needed more of. So we’re seeing developers bringing those projects in. The economy is great right now so developers are looking at projects.”
Developers anticipate taking applications for the apartments in early 2021, according to Doran.
