RACINE – In a 15-0 vote, the Racine Common Council approved entering into a development incentive agreement for the former Porter’s site in downtown Racine.
The resolution for the agreement is sponsored by Mayor Cory Mason and was recommended on May 24 by the Council’s Finance and Personnel Committee. It calls for the mayor and city clerk to enter into a development incentive agreement with CCM-Porters LLC for the site at 301 Sixth Street and 608 Wisconsin Avenue. The financial specifics are still be discussed.
Cardinal Capital Management Inc., a West Allis-based housing developer, purchased the Porter’s site earlier this year for $1.2 million. It has proposed building a multi-story complex containing 141 market-rate apartments, sub-surface parking and two-retail spaces totaling 18,000 square feet.
The downtown property was the site of Porter’s of Racine, high-end furniture and home décor store. The store closed in 2010 and the buildings were demolished in 2014.