Cambridge looking at U.S. Hwy. 12-18 development
Twenty acres south of Hwy. 12-18 in Cambridge is being discussed by the village board for a proposed mixed-use development, according to a report from the Cambridge News & Deerfield Independent.
Developer Todd Schultz, who hopes to build 72 units of multifamily housing on a third of the site and put commercial lots on the remaining acreage, is eyeing the site across the highway from the Cambridge Winery. He’s asking for $1.85 million in tax incremental financing to do so in a unique arrangement called pay-go TIF where the village would agree to pay him in annual installments from 2022 to 2039.
If approved, Schultz plans to break ground in 2020 and open a year later.