Study reveals local condo need

324 condo units are needed across Sheboygan County in the next five years. A new study, commissioned by the Sheboygan County Economic Development Corporation (SCEDC) and city of Sheboygan, recommended the development of 162 of these units located in either the downtown or along the riverfront in Sheboygan.

Using existing sales data and the absorption of housing, the study concluded that the development of 1,300 to 1,700 square foot units is ideal for downtown Sheboygan. The study went so far as to recommend price points, amenities and locations for the units. The study referenced recent similar developments on both shores of Lake Michigan as further proof that such units are popular among waterfront communities.

The study is the most recent concluding that a healthy market for additional housing development exists. The study indicates Sheboygan County should be able to absorb 230 “for sale” housing units such as single-family or condo development. In 2016, it is estimated that the county builders were able to construct a mere 121 units or approximately half of the annual demand.

Director of the SCEDC Dane Checolinski stated “We knew we had a significant need for housing. We didn’t realize how big of a market we truly have. There is an estimated $20,000,000 annual housing market just sitting there untapped. A condo development along the riverfront in Sheboygan is among the lowest hanging fruit to take advantage of the overwhelming demand for housing units.” The SCEDC and City will jointly market these opportunities to investors and builders who wish to take advantage of the study’s findings.

The study was performed by Tracy Cross & Associates, Inc. To inquire about the study, the SCEDC can be contacted at (920) 452-2479.

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