Apartment development coming to downtown Manitowoc

Posted on Jan 19, 2021 :: Insight on Business, Web Exclusive
Posted by of Insight Publications

Allie Family Companies plans to build a six-story apartment building that will house 81 market-rate units along the Manitowoc River in Manitowoc.

The land being developed is part of 20 acres of land adjacent to the downtown along the river that the city purchased from Canadian National in 2018. Called the River Point District, Manitowoc officials hope to extend the city’s downtown with an emphasis on housing, commercial development, restaurants and public use as well as access to the river.

The new apartment development will be called River North and will include apartments ranging in size from studios to three bedrooms.

“We’re very excited to bring a new living option to downtown Manitowoc that is unlike anything that currently exists. River North will be Manitowoc’s first mid-rise apartment building, offering unique amenities, quality living arrangements and spectacular views to its residents,” said Alex Allie of Allie Family Companies, which owns several other multifamily housing developments along the Lakeshore.

Construction is set to begin this summer with a fall 2022 completion date. The project cost is expected to cost just over $14.3 million, with a portion being financed with TIF.

“River North will bring millions of dollars of disposable income into downtown Manitowoc, which will be spent at nearby restaurants and shops and promote further downtown development,” said Peter Allie.

The apartment building will include an elevated patio overlooking the Manitowoc River, heated underground parking, a large commons area and a private fitness center.

The city will construct the infrastructure needed for portions of Phase 1 of the River Point District development in 2021 and has plans for a river walk, kayak launch and public space along the Manitowoc River.