Multi-use Development Plan is Being Explored
Racine – Mayor Cory Mason and Royal Capital Group’s President Kevin Newell announced today that the two entities have reached a principle agreement for Royal Capital to purchase a 9.5-acre lakefront property, commonly referred to as the Walker Muffler site, in downtown Racine.
“There is more interest now in the City of Racine from developers than there has been in several decades,” said Mayor Cory Mason. “I am excited that we have found a reputable developer who shares the same values as the City when it comes to being innovative in design, while producing an environmentally sustainable product, and who’s focused on benefiting the lives of our residents.”
Entering into the agreement with Royal Capital Group gives the Milwaukee based developers exclusive rights to the land at Walker as they begin to negotiate use, design, and public benefit with the City.
“Our firm is excited about the opportunity to transform this underutilized lakefront property into a development that further adds to Racine’s vibrancy in line with the future of smart cities”, said Kevin Newell. “Furthermore, we are committed to working with the community, business community, and City leadership to ensure that this site becomes a catalyst for what’s to come in the City of Racine.”