City officials unanimously approved a development on the west bank of the Fox River that will cost the city up to $4.3 million in tax-incremental financing funding.
Under the agreement, the developer, Alexander Company & Iconica, would create a senior living facility and a mix of single-family homes and condos worth $17.8 million.
The site is across from Lawrence University’s Alexander Gym and Banta Bowl – at 935 John Street, the site of the former Foremost Dairy facility.
The developer will buy the site for $850,000 from the Appleton Redevelopment Authority and begin two phases of the project. The first phase will be a 99-unit senior living facility, with a property value of $15.7 million, according to the development agreement. The second phase will be a mix of single-family homes and condos worth $2.1 million. The two phases are expected to be completed by the end of 2019.
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This article was first published in the Post-Crescent.
