The City of Racine, J. Jeffers & Co. and CG Schmidt celebrated the groundbreaking of what will become the Avenue Buildings - a 167-unit development that is part of the ongoing, multi-phase redevelopment at the Historic Horlick Malted Milk complex.
Racine, WI – J. Jeffers & Co., along with CG Schmidt hosted a groundbreaking and holiday tree lighting at Belle City Square – in the City of Racine, WI (located within the formerly known Historic Horlick Malted Milk complex at 2100 Northwestern Avenue). The event began with a groundbreaking for the new Avenue Buildings – the third project within the complex – and featured speakers from J. Jeffers & Co., CG Schmidt, City of Racine, and the Office of State Treasurer.
Following the groundbreaking, a reception was held at the newly renovated Arabella building, where the historic tradition of lighting the rooftop tree was revived.
“Our Belle City Square work continues to transform this historic property. This event celebrates the launch of Phase Three – the Avenue Buildings – which will provide two new, LEED-certified, multifamily residential buildings to the complex while also being architecturally sensitive to the site’s historic character,” said J. Jeffers Chief Marketing Officer, Scott Schwebel. “It also gives us a chance to return the fun rooftop tree tradition to the community as we further our reinvention of the former Horlick site.”
The Belle City development represents the most significant multifamily infill construction the City of Racine has experienced in decades. Construction on the Avenue Buildings (167 units in total) began on November 30, 2021 and is scheduled for completion in Spring 2023.
“The Avenue, in combination with our other residential buildings at Belle City Square will help satisfy a long-standing
unmet need for additional housing in Racine, breathing new life into the city,” said Schwebel.
This event celebrates the collaborative efforts to revitalize and modernize this once vacant and condemned site. With buildings dating back to 1875, the first phase and second phase revamped the original 2100 and 2200 Northwestern Ave. buildings within the historic industrial complex.
“Our CG Schmidt team has really enjoyed working on the Horlick buildings that hold such a storied past. We are thrilled to continue the development of J. Jeffers’ vision for the Belle City Square Avenue Buildings,” said CG Schmidt Vice President, Dan Chovanec.
The Avenue Buildings will be part of the ongoing, multi-phase redevelopment taking place within the Historic Horlick Malted Milk complex. The City of Racine has shown its support for the $40 million project by entering into a Tax Increment Financing Agreement with J. Jeffers that outlines several development incentives, including a $12 million Developer-Funded TIF.
In all its investments, J. Jeffers seeks to make achievements in environmental sustainability and socially conscious outcomes, and the Avenue Buildings are no different. The project will incorporate Leadership in Energy and Environmental Design (LEED) related improvements and achieve the standard in energy efficient design: LEED Gold.
“The City of Racine eagerly supports this development initiative. The next phase of this affordable housing project will create jobs, enhance the City’s tax base, and attract additional capital to the community,” said Mayor of Racine, Cory Mason.
For more information on the upcoming construction work at the complex, please contact Kelsey Kolb, CG Schmidt Marketing at (414) 577-1024 or via email at email@example.com.