Waterfront neighborhood development project on track with ma
LA CROSSE, Wis., Dec. 19, 2019 /PRNewswire/ -- The River Point District neighborhood (formerly known as Riverside North), located just north of historic downtown La Crosse, continues its development into a sustainable, mixed-use waterfront neighborhood.
Recently renamed River Point District, this emerging neighborhood is located at the water's edge at the confluence of the Mississippi, Black and La Crosse Rivers. The River Point District site reclaims 65+ acres of underutilized land along Copeland Avenue/U.S. Route 53 in central La Crosse and is easily accessible from nearby Interstate 90.
Approved Planned Development District document defines project vision and direction
The City of La Crosse Redevelopment Authority (RDA) approved River Point District's Planned Development District (PDD) document, marking a significant step in the neighborhood's progress. The PDD outlines the neighborhood plan, goals and requirements while serving as the master plan document for developers, investors and businesses looking to participate in River Point District. "River Point District's Planned Development District (PDD) plan embodies the hard work and vision of caring citizens and city leaders over many years of land assembly and planning. It will serve as an excellent market-responsive guide for our developer and investor partners in delivering the thoughtful public vision for the site," said Jason Gilman, director of planning and development for the city of La Crosse.
Together with master developer WiRED Properties, LLC, the city of La Crosse continues with the engineering phase of the River Point District project, expanding and refining infrastructure throughout the site and working with developers and investors to gain project interest and commitments.
New brand and communication assets to build awareness and support neighborhood growth
The RDA partnered with La Crosse-based Vendi to complete an overall branding effort, including the development of a name, logo, website and other communications. After conducting brand strategy sessions and gathering feedback from city administrators, community members and other key stakeholders, Vendi presented and the RDA unanimously chose the River Point District name and logo.
The River Point District website, riverpointdistrict.com, provides information about the neighborhood's location, history, vision and goals, as well as helpful details/next steps for investors, developers and businesses. "After years of planning and anticipation, we are launching into the next exciting phase for River Point District. This new La Crosse neighborhood will have something for everyone and will complement the things that make La Crosse great—activities inside and out, our businesses and organizations, the natural beauty and, of course, the people," said Adam Hatfield, RDA chair. As residential options are established in River Point District, the website will also become a resource for residents.
Opportunity Zone designation offers solid investment benefits
River Point District is located in a designated Opportunity Zone. This designation offers investors special tax incentives including temporary tax deferral, step-up in basis and permanent exclusion from taxable income of capital gains. Opportunity Zones were created under the Tax Cuts and Jobs Act of 2017 to spur investment in distressed communities through investments from Opportunity Funds. State and local officials designated River Point District as an Opportunity Zone to encourage investor participation, neighborhood growth and overall community advancement.
About River Point District
River Point District is a visionary, mixed-use waterfront neighborhood where abundant natural surroundings create opportunities for unique community amenities and inspiring development. Located in central La Crosse at the point where the Mississippi, Black and La Crosse Rivers meet, River Point District will establish a dynamic, inclusive neighborhood at the center point of the city's urban districts and seamlessly connect the community to the rivers and downtown. The neighborhood will eventually provide 800+ residential units and dedicated locations for offices, shops and restaurants.
The city of La Crosse has been working toward creating River Point District since 1995, when it began buying parcels of land for development within the larger overall project site. The RDA has since acquired and remediated the three primary former industrial properties within the project area. Additionally, the city continues efforts to fill and raise much of the site a minimum of two feet above the 100-year flood plain elevation. Throughout its development, the River Point District neighborhood project has been positively impacted by grants from the Wisconsin Department of Natural Resources and Department of Transportation to support ongoing sustainable, community-minded planning and growth.
For more information, please visit riverpointdistrict.com.
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SOURCE River Point District