New housing development project in Racine would add 500 apartments, create jobs

RACINE, Wis. (CBS 58) -- The city of Racine is working on what it calls the largest housing development project in a generation. 

Royal Capital Group has plans to build along the lakefront at the former site of Walker Muffler. 

Officials say it will be at least a $50 million investment. The development includes 500 apartments, commercial space, and parking. The city of Racine will contribute about $1 million to the project. 

Mayor Cory Mason says it will be a great addition to help grow the city. 

"Not only is this a great development around our lakefront and bring economic vitality to it, but we really look at the values of this developer and what that means and what it meant, this is going to be the first project that will be under the Racine Works project that has a local hire component. There are 250 construction jobs that come with this project," said Racine Mayor Cory Mason. 

Construction on phase one of the project is expected to start next spring and the first phase will be finished by 2020.