MANITOWOC, WI (WTAQ-WLUK) – Manitowoc mayor Justin Nickels says a new apartment building along the Manitowoc River will be “the largest new development in Downtown Manitowoc that we’ve seen in generations.”
The Manitowoc City Council approved a term sheet to sell 1.646 acres of land in the River Point District, the former CN Peninsula, to Allie Family Companies.
The company plans to construct River North, a six-story apartment building that will house 81 market-rate apartments. They will be located on the southeast portion of the district, with North 10th Street to its east and the new “River Point Drive” being constructed to the south along the Manitowoc River.
The apartments will range in size from studios to three bedrooms and feature underground parking and panoramic views of Downtown Manitowoc, the Manitowoc River, and Lake Michigan.
“We’re very excited to bring a new living option to downtown Manitowoc that is unlike anything that currently exists. River North will be Manitowoc’s first mid-rise apartment building, offering unique amenities, quality living arrangements and spectacular views to its residents,” wrote Alex Allie of Allie Family Companies.
In 2018 the City of Manitowoc purchased just over 20-acres of land adjacent to downtown and along the Manitowoc River, west of N. 10th Street, from Canadian National. The city’s goal for the River Point District is to be an extension of Downtown Manitowoc with an emphasis on housing, commercial, restaurant/brewpub, and public use/access to the Manitowoc River.
“When we decided to make Downtown Manitowoc our focus a few years ago we had in mind three priorities: a destination for people to live, work, and play. I could go on and on about the tremendous growth we have seen over the past years for work and play, but getting people to live downtown is truly the greatest of those 3 priorities. To be able to add this amount of housing to downtown – while complimenting the other housing options added over the past few years – will truly be a game-changer for continued growth and development for businesses that want to relocate downtown and even more opportunities for public space and fun in our beautiful downtown,” Mayor Nickels said.
The plan is for construction to begin in summer of 2021 with a completion date in the fall of 2022. The city will be constructing the infrastructure needed for portions of Phase 1 of the total development of the River Point District in 2021 and has plans for a river walk, kayak launch, and public space along the Manitowoc River.
The project cost is expected to be just over $14.3 million, with a portion being financed with TIF.
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