$5.5 million redevelopment planned for downtown Racine

RACINE -- Owners of the Porters of Racine building in downtown Racine announced Thursday they will redevelop the property as a mixed residential and commercial development. The current building, which was once nine separate buildings that were combined over time, will be renovated for 37 apartments on three floors, and 6,200 square feet of commercial space on the ground floor.

The building was used previously as retail showrooms and support space by the Porters of Racine furniture store. The high-end furniture store closed after 152 years in business. The building occupied nearly the entire downtown block between 6th and 7th Street and College Avenue in Racine.

The interior of the building will be completely renovated, but the exterior will remain Porters' iconic Art Deco appearance. "This 80,000 square foot multi-million dollar renovation for apartments, retail and office space will provide tenants with a premier downtown address to live, work, shop and play," building owner Micah Waters said.

The 37 units will range from $500 to $995 per month. Residents will enjoy special amenities, including interior courtyard apartments, off-street parking, laundry facilities, exercise equipment and a private roof-top deck with fire pit.

The redevelopment is expected to cost $5.5 million, including the value of the existing building and land. Financing for the project will be provided by an area financial institution, and through tax incremental financing provided by the City of Racine.