$23 million housing development expected to start in Little Chute
LITTLE CHUTE (WLUK) -- For years the land along Cherryvale Avenue in Little Chute stood empty while it's surrounding areas slowly developed.
The Village of Little Chute Administrator, James Fenlon, told FOX 11, that's no longer the case.
"So early in 2017, a developer had approached the village about purchasing 30 acres of a privately held piece of property," Fenlon said.
The project will cost approximately $23 million. The large apartment complex will have about 290 units. It will be located to the north of Evergreen Drive and east of French Road. Village leaders say they see a lot of potential in that area.
"It's north of where HWY 441 and I-41 meets so there's a lot of activity there, and if you have those kinds of traffic patterns. People want to live near major interstates that are easy to transport themselves," Fenlon explained.
Fenlon said because the project is outside of the tax incremental district, the village is providing little incentives for the development.
"So, there's really no big buy on the village per say, it's a big investment on the developer."
Village leaders say most importantly, the project will add rooftops to those who need it.
"The Fox Valley in general is deficient in multi and single-family housing stocks," said Fenlon.
According to the US Department of Housing and Urban Development, the total demand for rental units in the Fox Cities is more than 2,000. However, more than 400 units are currently under construction.
The units under construction are expected to meet a portion of the rental housing demand.
"I think in the long run we'll see possibly more commercial growth or mixed used development in that area, providing more demands of services that these residents are going to want and need," Fenlon said.
Fenlon adds that the village already saw growth over the past few years through similar projects.
Construction is expected to begin in the coming months and continue for 2 years.
Village staff will be meeting with developers next week to begin working on site utilities and street construction.