A rendering for one of three buildings for the Grand Boulevard Apartments on Green Bay's east side. (Photo courtesy: City of Green Bay)
GREEN BAY, WI (WTAQ-WLUK) — The first housing project in a new neighborhood on Green Bay’s east side could break ground next month.
It’s on 26 acres of land, between the Kroc Center and Walmart, that JBS Foods donated to the city during the coronavirus pandemic.
Roads, sidewalks and utilities have been going in over the past few months. Next will be 95 workforce housing units.
A city committee provided initial approval for a development agreement for the project Tuesday afternoon.
The Grand Boulevard Apartments, made up of three three-story buildings, will target people making 80 to 120% of the county’s median income, which is $77,500.
“I honestly feel this project is a huge pioneering trek in Wisconsin targeting the missing middle,” said Ted Matkom, Wisconsin market president and general counsel for the developer, Gorman and Company.
Matkom says limited resources make projects like this difficult.
The apartments are being made possible with the help of a $2.5 million TIF loan from the city that will be paid back through the apartments’ new tax revenue; $500,000 in HOME funding (a government fund aimed to expand affordable housing); and the land being gifted to the developer from the city for $1.
“This is going to be a game changer for this neighborhood in terms of the employers that are around there,” said Matkom. “Demand for housing for these types of employers is just off the charts.”
“It will really serve as a catalyst for the remainder of the property,” said Matt Buchanan, deputy development director for Green Bay.
Buchanan says requests for proposals will be going out soon for other developers to bring additional multi-family units, single family homes and townhomes to the property.
“We wanted to provide an array of housing options for the community,” said Buchanan.
The Grand Boulevard Apartments will have 23 one-bedroom units, 48 two-bedroom units and 24 three-bedroom units.
While the goal is to serve area employers, 91 of the 95 units will be available to any income.
“What that really brings is a great broad sense of diverse incomes to this area, which I think will be fantastic in between JBS, Salvation Army and Walmart there,” said Matkom.
The apartments are expected to carry an $11 million property value once they’re complete.
The full city council will still need to vote on the development agreement, which is likely to happen at its next meeting.
A destination park and urban farm are also part of the plans for the land.
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