GREEN BAY, WI (WTAQ-WLUK) – Green Bay’s city council approved a major development for downtown during Tuesday night’s meeting. It’s a project that’s been in the works for years, highlighted with a grocery store and 172 new apartments. The proposed development will cost about $22 million.
The council approved the plan unanimously. The project will be built on what is currently a city-owned parking lot along Monroe Avenue and Quincy, Pine, and Cherry streets.
“I think we have in front of us a pretty exciting project that checks a lot of boxes for Alder Scannell’s district and for our downtown and our community at large,” said Mayor of Green Bay, Eric Genrich.
The project features a five story building with 172 apartment units. As well as eight townhomes, a retail space, which UW-Green Bay has expressed in taking over, and a grocery store.
“As we have been given the charge from the common council and RDA, this project would not happen unless there was a full-fledged grocery store in this project,” said Ted Matkom with Gorman & Co. who is the developer.
As Fox 11 previously reported, Main Oriental Market, located across the street from the project site, is looking to be the store to move in and become a full scale grocery store.
“I’ll tell you it’s probably the lowest based rent you’ve seen on a grocer in a long time in order to ensure they’ll be successful,” said Matkom.
Alders also addressed the concerns they heard from people about not including affordable housing. The development no longer qualified for affordable housing after revised census data. Apartments will be rented at market value. Monthly rent for studio apartments will range between $1,100-$1,150. One bedrooms will be around $1,400-$1,450. Two bedrooms will go for about $1,695-$1,795. Three bedroom apartments will be just over $2,000.
Many council members acknowledged the need for affordable housing, but also the need for apartments at market rate as well.
“We have housing needs across the spectrum right now. It’s not just in one category,” said alder Brian Johnson for District 9. “Affordable housing is absolutely a need in the city but so is market rate.”
Mayor Eric Genrich expressed a possibility of using federal money from the American Rescue Plan for affordable housing.
According to the agreement, construction should begin before the end of next year. The developers are also hopeful that construction costs for supplies will decrease before they begin to build.
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