HOWARD, WI (WTAQ-WLUK) – With hard hats and shovels in hand, Howard officials break ground at the village’s newest apartment complex, “Howard Commons.”
Village Administrator Paul Evert tells WLUK…
“In order to really have a public space that’s vibrant, we need people to live here.”
He says the estimated $22 million project is a part of a larger development plan, which started the New Perspectives Senior Living Center last year.
“The other anchor that we wanted to have was a large multi-family luxurious high end facility.”
He continued to explain that the village is borrowing money to pay for the complex.
Evert says tax payers will not be on the hook for the funding, but rather, the money will be paid back through rent collected from the apartments.
“Well essentially it is paying its own way. We are going to borrow money and the rent for the facility will be able to pay all its own debt.”
Village President, Burt McIntyre, says that has driven down the cost.
“Being the developer, we estimated we’re saving about $3.5 million on the project.”
He says this is all an effort to build a downtown district, “Hopefully we will have a restaurant down here, or a coffee shop, something like that.”
The village hopes the 168-unit apartment complex will spark more development in the area. The complex is expected to be completed by late summer of next year.
