Verdant Developer Eyeing Another Building

May 24, 2024 8p

(WGTD)---The company that turned a vacant downtown Racine department store into an 80-room luxury hotel complete with a restaurant and a rooftop lounge is tackling another project.

Dominion Properties is looking at a much smaller building immediately to the north of the Verdant Hotel.  The structure at 222 5th St. is a rectangular-shaped, three-story building with a distinctive cupola that’s a century old.

Dominion Properties head Mike O’Connor said his company plans to use tax credits to help fund an expensive restoration project. "Every little bit of the building is going to be touched from the floors to the walls to the ceilings both inside the building and on the outside," O'Connor said. "We're going to be taking off asbestos tiles and replacing them with the original copper flashing."  In addition, the appearance of the storefronts will be returned to the original look. 

There are a total of two storefront spaces, and a total of four, spacious Art Deco-styled apartments on the second and third floors.

Dominion is currently seeking tenants for the small storefronts.

Dominion has also acquired a 100-stall parking lot that’s adjacent to the building. 24 of the stalls will have charging stations. Verdant customers will be able to park there, he said. 

Various city approvals are still needed, but O’Connor is hopeful that the project can begin sometime this summer.