The 222 building on College Avenue in Appleton, December 7, 2023. PC: Fox 11 Online
APPLETON, WI (WTAQ-WLUK) – U.S. Venture would invest $40 million into the redevelopment of the 222 Building in downtown into its corporate headquarters, while the City of Appleton would contribute $2.1 million to the project, according to a development agreement under consideration.
U.S. Venture has been examining possible sites for a new headquarters for several years, once focusing on “the bluff site,” but recently on the 222 Building — originally the Aid Association for Lutherans building — on College Avenue.
According to the proposed development agreement, U.S. Venture would invest $40 million in the site, and guarantee the assessed value will be at least $29.3 million by Jan. 1, 2026. The company will also redevelop five other lots.
Appleton would contribute $2.1 million in TIF funds. Also, the city will guarantee U.S. Venture up to 650 parking spots, primarily in the Green Ramp, plus accommodate other parking needs.
The city’s Community & Economic Development Committee meets at 6 p.m. Wednesday on the sixth floor of City Hall.
The company’s current corporate headquarters is at 425 Better Way in Kimberly.
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