Sept. 8, 2024 7p
(WGTD)---The City of Racine may use federal block grant funds to help put back on line a lower-income, 40-unit apartment building that was heavily damaged by a fire late last year.
No one was injured in the blaze at Parkview Manor at 2000 Washington Ave. But about 30 residents were displaced, and the three-story building has been boarded up ever since at a time when affordable housing is hard to come by for many.
Meeting Monday night, The city's Community Development Block Grant Advisory Board is expected to discuss a proposal to spend up to $1.7 million on the project. Half of the 40 apartments would go for at-market rates while income limits would be capped for the rest.
The building was most recently assessed at $1.7 million.
City spokesman Sean Ryan said it's believed that the rehab project would boost the building's value to $3 million.
The federal funds would come from the government's HOME Investment Partnership Program.
The building is in the process of being sold to a company that specializes in multi-family real estate, according to Ryan.
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