Wednesday, May 15, 2019

$40M Downtown housing, hotel announced

RACINE — A development of about 190 market-rate apartments and a five-story hotel — an investment of more than $40 million — is proposed for a key Downtown redevelopment site.
At his office Tuesday morning, Mayor Cory Mason announced a partnership with Hovde Properties of Madison to build on the former We Energies property at 233 Lake Ave., the southeast corner of Lake Avenue and Gaslight Drive.
The project includes two multistory apartment buildings, a hotel, a green central courtyard and an enclosed parking structure with a total value exceeding $40 million when completed.
Mason said of the plan: “It provides two things that we need more of: market-rate housing and hotel space, so it seems a good fit for the site.”

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