The City of Two Rivers is nearing an agreement for the development of a property located at 3000 Forrest Avenue.
City Manager Greg Buckley told Seehafer News that the City Council has been in contact with an Appleton developer who is looking to build 45 market-rate apartments on the former Hanson Florist site.
“We hope to have the development agreement approved by the City Council in January to assist that project with funding from Tax Incremental District Number 15,” Buckley explained. “We also expect at the Plan Commission’s January 10th meeting to see the final plan.”
The apartments would be split between three 15-unit buildings, with the City investing an estimated $7 million.
Buckley said that he and the City Council are excited about this development, and that “It will be a great start to 2022.”
This project comes on the tails of the sale of the former Paragon Partners property by TRIVERS LLC at a cost of $1.2 million.
That sale is currently in its 90-day due diligence period, which will end on February 27th.
At that point, the sale would be final.
