Tenants move into Riverwalk Apartments
Construction continues on third building

By ANDREA FENCL - Freeman Staff

June 4, 2017

The Riverwalk Apartments on East Capitol Drive.
Andrea Fencl/ Freeman Staff

HARTLAND — Residents have moved into two of the three buildings of the Riverwalk Apartments as of April 1, Village Administrator David Cox said.

Cox added that the third building, a mixed-use structure, should be finished sometime in the summer or early fall.

The $12 million project began in Nov. 2015 and consists of 80 residential units and 4,000 square-feet of commercial space, making the total floor area 80,000 square feet.

The project is supported by the village’s tax Increment and financing (TIF) 6, meaning approximately $700,000 was provided by the village as outright grants in assistance to infrastructure, demolition and for the development of the pedestrian bridge that will cover the Bark River. An additional $1.2 million was paid toward the project in tax rebates and two parcels of land owned by the village were also put toward the development.

The apartments are expected to return approximately $8 million to $10 million in revenue to the downtown area.

Provided the developer receives the permits necessary, construction will begin on the pedestrian bridge in mid-July and is set to finish three to four weeks after.