RACINE — Foxconn Technology Group has, as promised, bought the Downtown building at 1 Main St., where the company plans to create Foxconn Place Racine and Wisconn Valley Innovation Center.
Foxconn closed Thursday on the $6.25 million purchase of the 46,000-square-foot building from Midwest Professional Properties LLC.
On Oct. 2, at an outdoor news conference between the three-story building and the river, Foxconn and its government partners announced the future Foxconn Place Racine and Wisconn Valley Innovation Center in the building named One Main Centre. There, the company said, it will work with community partners to develop and implement “smart city” innovations.
The building is to house at least 125 Foxconn employees, according to Alan Yeung, Foxconn’s director of U.S. strategic initiatives. Foxconn will occupy the entire second floor of the building — most recently an Ascension All Saints medical clinic — and southern half of the first floor, or almost exactly half of the structure. All current tenants are to remain, Foxconn has indicated.
No further information was available Thursday or Friday about the timing of the project.
About one week after the initial Foxconn Place announcement, the company issued a request for proposals for design/build companies to propose innovative design concepts for the building.
“Foxconn is requesting for proposals that blend the company’s need for smart co-working spaces, designed with the workforce of the future in mind, with our vision for Foxconn Place Racine as an incubator of smart city initiatives, driven by technological innovations at the Wisconn Valley Science and Technology Park,” Yeung stated at the time.
Second Downtown building
On Oct. 2 Yeung said: “Foxconn’s purchase of One Main Centre is in line with our continued efforts to create a vibrant environment in Wisconsin for smart city solutions that will revolutionize how we live, work and play.”
Yeung said Foxconn believes that its technologies will “catalyze and inspire next-generation ideas in enhancing quality of life, living spaces and working environments. We invite the community, through public-private partnerships, to join and partner with Foxconn to strengthen public safety, public infrastructure, transportation networks and energy sustainability.”
Three months after the initial Foxconn Place announcement, Foxconn closed on the purchase of a second significant Downtown building, the three-story former Elks Club building at 601 Lake Ave., for $1.2 million. Johnson Redevelopment Corp., the real estate arm of SC Johnson, was the seller of that building now named Harborview Professional Center.
Foxconn said in a statement, “The property will support Foxconn’s ‘Smart City’ initiatives throughout Racine and the state and will contribute to the company’s efforts to help position Wisconsin as a global hub for high-tech talent and businesses.
“Further announcements about 601 Lake Avenue will be made in due course.” No update on the situation was available from the company Thursday or Friday.