MONONA, Wis. (WMTV)- The first two phases of construction on the Yahara Commons project in Monona is set to finish early this upcoming summer.
City officials said a new apartment building, hotel, park and several retail shops will be available for the public to use.
Kristie Schilling, the CEO of Monona's East Side Business Alliance, said the Yahara Commons is a big step for the small community. She said The Current, the 96-unit apartment building being constructed, will also include commercial space.
Schilling said restaurants such as Buck and Honey's, Forage Kitchen and True Coffee will open up shops at Yahara Commons.
Monona's city administrator and economic development director, Bryan Gadow, said the project will bring in an additional tax base.
"As we redevelop properties and make them more valuable the tax base of the community go up, which allows us to make more investments in things like out roads, streets, and police force," said Gadow.
Gadow added that it will also bring new jobs, stating that the hotel will employ around 25 people. The owner of Buck and Honey's said this will be their second location, and they will employ around 70 people.
"Any time we have jobs that are created through re-development that is an additional opportunity to work in the community that they live in," said Gadow.
Schillings said the once under-utilized area along the river, has now become an opportunity,
"I have been seeing a lot of businesses in the past decade that have relocated out of Monona, because they are growing and Monona can bring them in and have them be a part of our community."
The third and final phase of the project includes an apartment complex with approximately 140 units. Schilling said the city has not announced when it will begin that portion of the project.