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RiverHeath development set for next phase

Post Date:10/01/2015
The next phase of the RiverHeath development is set to begin construction, pending Common Council approval of an amendment to the original development agreement at the October 7 meeting. 

The developer is set to add a second apartment complex at the site as well as a commercial building. The additional investment will add $18 million to the city’s tax base, bringing the total investment in the RiverHeath development to nearly $30 million so far. 

“This is another milestone in a great development along our riverfront that adds tremendous value to the city” said Community and Economic Development Director Karen Harkness. 

The development will also create an addition to the Newberry Trail along the riverfront through the property. 

Construction could begin immediately if the council approves a change to remove a penalty associated with construction timelines designated when the project first began before the recession in 2008. 

That penalty would lower the amount of the tax increment payment the developer would receive for the project. Removing the penalty is a condition of securing financing for the developer to begin the next phase of the project. 

Additional phases of the project are also on track for development in the next few years. 

Appleton Communications Coordinator Chad Doran can be reached at (920) 832-5814 orchad.doran@appleton.org
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