Apr. 30, 2021 3:55p; Updated at 4:45p with price tag
(WGTD)---A big hole in downtown Racine could be filled soon with a seven-story, multi-use development that was unveiled Friday.
The city plans to partner with Cardinal Capital group to build 141 market-rate apartments and two retail stores in the block where Porters of Racine once stood. The high-end furniture store went out of business a number of years ago and the structure was demolished.
"This project, should it move forward, would be the first fully market rate, new multi-family construction in the Downtown in more than 20 years," said Mayor Cory Mason in a news release. "Not only would it breathe new life into an entire City block but, it would be catalytic for future developments," he said.
Mason views the $46 million Porters redevelopment, and the conversion of the Zahn's building on Monument Square into a hotel and restaurant, as two projects that should help "lift the morale" of the city as it recovers from COVID-19.
Milwaukee-based Cardinal Capital's portfolio includes several redevelopment projects in Racine, including, most recently the construction of multi-family housing buildings on the Ajax property, an industrial site off of St. Hwy. 32 and 16th St.
The city's Planning, Heritage and Design Commission will hold a virtual public hearing on the Porters project on may 12th.