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Larsen Green Phase 2 Completed Photos

Larsen Green Development Phase 2 Green Bay

A couple stills taken today of Larsen Green Phase two, which adjoins Titletown Brewery’s expansion. Expansion on the next phase looks to be beginning just a bit north of phase two, which is shown in the last image in this post. Crews are gutting the building and construction fencing is up.

Phase 2 turned out beautifully with a plethora of windows and I believe full occaupancy (correct me if I’m wrong).

Larsen Green Development Broadway Green Bay

Larsen Green Phase 3 Green Bay Broadway

Fourth Floor Views from the Riverwalk Plaza

Downtown Green Bay Real Estate Riverwalk Building View

Located at 200 South Washington in Downtown Green Bay. A few shots north and east from the northeast corner of the building looking out. The vacant lot just north of the property is one of the few left undeveloped riverfront lots in downtown along the east side. The chase bank across the street is also a prime redevelopment site, which currently has marketing for sale signs posted on the property. I wouldn’t be surprised if this area begins to be developed over the next few years and this view changes signficantly.

Downtown Green Bay Real Estate Riverwalk Building View

Titletown Tech Construction Update Photos

Titletown Tech Center Construction Green Bay

Photos taken on June 13, 2018 of steel framing being developed for the Titletown Tech Center.

Titletown Tech Center Construction Green Bay

Titletown Tech Center Construction Green Bay

Titletown Tech Center Construction Green Bay

Titletown Tech Center Construction Green Bay

Updated Shipyard Proposal Unveiled by Green Bay Redevelopment Authority

Green Bay Shipyard Development

Green Bay city officials released an updated vision for the shipyard development site on South Broadway yesterday evening. The updated site is scaled down version of the original proposal after the Green Bay Bullfrogs pulled out their proposal and decided to build their new stadium in Ashwaubenon.

Six months after the Green Bay Bullfrogs weighed anchor for Ashwaubenon, Green Bay Economic Development Director Kevin Vonck laid out the city’s new vision for the site east of Broadway and north of Mason Street.

Green Bay Shipyard Proposal Broadway Green Bay

According to the Green Bay Press Gazette:

“The city’s Redevelopment Authority on Tuesday endorsed the $11 million project and supports the city’s proposal to borrow $2 million this year via a tax incremental financing district to pay for property acquisition and a comprehensive design for the 13-acre site. City officials said the project would not require support from general property taxes if future development attracted to the area by the city’s work can generate $30 million in new property value.”

Green Bay Shipyard Development Site

Items of focus in the park include a “container park” developed from older shipping containers for retail and shops allowing for lower overhead for local small businesses looking to dip their toe into entreprenuership. The site also plans to have 50 feet of river frontage used as an urban sand beach with trail, boat docks, playground and splash pad.

More details will follow.

Is Multi Family Investor Demand Near Peak?

Multi Family Peak Market Cycle Green Bay

Multi family remains one of the most in demand commercial categories which I’ve heard anecdotally from several commercial brokers in Brown County. Limited listings for stabalized product have pushed prices up and cap rates down. This price push has increased price per unit as investors chase harder to gain returns and has encouraged more Multi-Family construction.

The cyclical nature of the Multi-Family market and pent up demand will encourage developers to continue to build until peak has been met, but when will we meet such a peak?

Manseau Flats Apartments Ashwaubenon
The Manseau Flats Apartments – Currently Under Construction in Ashwaubenon

Jones Lang Lasalle, one of the largest commercial brokerages in the U.S. has pegged most major market indicies as approaching peak in their cycles as shown in the illustration at the top of the article (source).

Although Brown county is typically more conservative in market swings in comparison to larger metros the amount of development online or finished with projects will make a dent in the current inventory levels. Projects such as the Metreau, CityDeck Landing, Manseau Flats, Howard Commons, The Element, and The Bohemian Park are some of the many recently finished or under construction developments adding to current supply levels.

Arvada Apartments De Pere Hobart
The Arvada Apartments Development located in the West De Pere / Hobart Area. Some of the many apartment units currently under construction in the Green Bay metro area.

To learn more about multi-family market conditions, listings for sale, and landlord resources, head over to the Green Bay Multi-Family are of the site.

Manseau Flats Construction Update Photos

Manseau Flats Apartments Ashwaubenon

Manseau Flats Apartments Ashwaubenon

Check out more information and full profile of the Manseau Flats here

Green Bay Packaging Announces Potential $500 Million Development

Green Bay Packaging Proposed New Mill

Green Bay Packaging, one of Green Bay’s largest area employers is proposing a massive upgrade to their existing facility in northeast Green Bay, just a stone’s throw from Tower Drive Bridge. The expansion would add hundreds of jobs and increase production capabilities by over 50%. Proposed renderings of the massive facility can be seen below.

A full data sheet along with nicely done website and video explaining the vision can be found at gbpfuture.com

Green Bay Packaging Proposed New Mill

According to their website:

“Green Bay Packaging currently has 1,534 full-time employees in Wisconsin, 1,100 of which are employed in Brown County. The company has paid over $500 million in wages to its Wisconsin employees over the last five years. Those wages are consistently being reinvested into our local communities through taxation, real estate, and leisure.

Green Bay Packaging has added 387 new Wisconsin employees over the last five years, which resulted in a 33.68% growth in the company’s employment within Wisconsin.”

Green Bay RDA Approves Legends District Master Plan

Legends District Green Bay Lambeau

The RDA has released their draft of approved for the Legends District just a couple blocks east of Lambeau field. The district calls for mixed use and refers strongly to the use of “Industrial Chic” design.

The full 118 page Master Plan can be found directly on the Green Bay website by clicking here (pdf).

The image below shows the boundaries of the district, which has remained mostly as vacant land and parking lots, but does call for the demolition of previously industrial use buildings that are still standing in the district. The biggest and most significant would of course be Saranac, which has prime frontage along Lombardi Ave. and is still operating today.

Legends District Green Bay Lambeau Master Plan

Several photo examples are given of what would ideally be developed in the district. Industrial chic, mid-rise mixed use style buildings are referenced throughout the report and some of the examples in the report are shown below.

Legends District Green Bay Lambeau

This area has been ripe for development so it’s great to see the city finally creating a formal plan, which will hopefully provide a catalyst for future development, much like the Titletown district on the west end of Lambeau.

Cool Video of Downtown Green Bay Sunset

I just stumbled on this video taken in the summer of 2016 from the top of the new Titletown Brewery expansion. Great time lapse shot gives a view of the west looking towards the East side of the Fox River downtown Green Bay.

Sunset over Downtown Green Bay from Ric Larson on Vimeo.