Stevens Point Common Council Minutes December 2025
Mixed-Income Housing Project Awarded to Commonwealth Real Estate Acquisitions
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Description
The City of Stevens Point and its Redevelopment Authority approved a Development Agreement with Commonwealth Real Estate Acquisitions, LLC for a mixed-use affordable housing project on the former Shopko site. The city will provide $1,450,000 in TIF support and convey the property for $1; developer will construct a 50-unit residential building and community service facility, with key milestones and public benefit covenants extending to 2047.
Contract Details
Contract Amount
$1,450,000 (TIF support) plus $1 purchase price for property
Vendor
COMMONWEALTH REAL ESTATE ACQUISITIONS LLC
Agency
City of Stevens Point, WI
Contract Type
CONSTRUCTION
Document Date
December 2, 2025
Contract Term
September 1, 2027 – December 31, 2047 (project initiation and 20-year compliance term)
Renewal Date
2047-12-31
Renewal Info
Agreement term runs through December 31, 2047. Renewal/amendment possible only by mutual written amendment; no auto-renewal.
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