STEVENS POINT, Wis. (WSAU) --
The apartment development announced last week in Stevens Point took another step closer to reality Monday.
Developer CCFS Group LLC wants to build a six story 40 unit apartment on the site of the present Point Motel costing nearly seven million dollars. The project is slated to receive $500,000 in tax incremental district money from the city to handle some of the site clearing and preparations.
Community Development Director Michael Ostrowski says the Finance Committee moved the plan forward. “The Finance Committee did end up recommending approval of that development agreement. That recommendation will be forwarded to the common council for their decision on Monday.”
If the full City Council approves the TIF funding Monday, Ostrowski says this project will have many other steps that need city approval. “After that approval, they would then go through their architectural plans and putting those together. They also have to purchase the property and close on the property, but they have to put together their building plans and get approval with those as well.”
City Council members have already heard strong opposition from other landlords in town, but the committees have been supporting the project so far with some council members saying more student housing is needed, and so is the competition.