Fox Cities News

The sale of the former Blue Ramp Site from the city to a developer has been postponed until May 1. The developer, Merge, plans to sell an existing real estate asset to finance this purchase.

"We chatted, he was three weeks from closing on a multi-family building, and I believe Waterloo Iowa, and selling it for upwards of $14 million which would give him the capital he needs to move forward on his next projects," Community Development Director Kara Homan said, according to a video of the Appleton Community Development Committee.

Homan said that Merge completed phase one of a project on a property across from the transit center. Phase II is planned for the former Blue Ramp site at the southeast corner of Washington and Appleton Streets. The first phase, Urbane 115 Apartments, is currently leasing.

According to the committee's agenda for its February 26 meeting, Merge's pending sale of an asset is scheduled for closing in March. Staff and the applicant sought a final extension for the purchase from the city, with a final closing date set for May 1. The committee unanimously approved this extension.

The agenda also noted that Merge was initially expected to purchase the former Blue Ramp Site by July 31, 2024. However, this date was pushed back to February 28 due to Department of Natural Resources (DNR) clearance requirements.

Merge's website describes Urbane 115 as a five-story mixed-use building located at N Appleton and E Washington Streets in Appleton. The project includes 56 residential units and approximately 6,600 square feet of commercial space, offering a mix of studio, one-bedroom, and two-bedroom units.