The former Schuette’s Department store in downtown Manitowoc has been closed since 1994, but the new investor/owner hopes to have retail and apartment space occupied by this October. Seehafer News spoke with Anton Doneff and he told us the three-story structure was built in the early 1900s…and in a couple of phases.
Doneff explains that he and his wife, Michelle, have owned the property at the corner of South 8th and Jay Streets for 8-years.
He said a key piece to the $7.5 million dollar redevelopment puzzle..concerned financing.
Doneff praises their lead lender, locally-based Investors Community Bank, and cited a low-interest loan from the Wisconsin Preservation Fund, and a $250-thousand dollar grant from W-E-D-C in the form of historic tax credits to preserve the historic features of the building. Anton also said he has a personal tie to the city’s downtown fixture.
Doneff says they have a lot of interest for the higher end apartments on the top 2 floors and, he added this…
Regarding ‘parking’ for the building’s tenants and retail customers…he says.
The historic wooden staircase will be preserved, along with at least a ‘portion’ of the store’s memorable tube system.
The owner/investor believes the project, when completed this fall will serve as a catalyst for additional development in the downtown area. For rental inquiries email info@doneff.com.
