The Quin Breaks Ground in Walker’s Point
5-story, 70-unit, $12 million complex on 2nd St. is selling the neighborhood.
Another large residential development broke ground in Walker’s Point today, and it’s the first Milwaukee property for the developer Linden Street Partners.
The $12 million building is called The Quin and it’s at the northeast corner of S. 2nd and W. Florida streets. It’s a five story, 70-unit apartment building with 1200 square feet of retail planned for the first floor. It’s the latest large residential development to go up in the former industrial wasteland of Walker’s Point.
Linden Street Partners has properties around the Midwest and the western United States and offices in Pittsburgh, PA and Santa Ana, CA. Andrew Ganahl, a managing partner, said they started looking for property in Milwaukee more than a year ago and quickly became interested in the Walker’s Point market.
“2nd street is such a draw for us,” he said. “We love the visibility along there.”
The S. 2nd Street commercial district is an attractive place for young professionals with money to spend. It has a growing menu of entertainment, bars and dining. The Quin residents will likely be ideal customers for many of these establishments. With a mix of one- and two-bedroom units, its one-bedroom rents, according to Ganahl, will run about $1,300 per month. And for smaller studios, rent will be roughly $1200 and less, he said.
“I think Walker’s Point is really getting a name for itself as a destination neighborhood,” he said. “But there aren’t as many opportunities to live here as maybe some other neighborhoods in the city.”
Ganahl said the facade is an expression of the “innards” of the neighborhood’s many old industrial buildings.
The development is being built by Altius Building Company and is expected to be finished by the end of summer 2018.
The developers don’t yet have a tenant for the 1200 square feet of retail on their first floor. Ganah said they would prefer a local business, but won’t refuse a larger chain if it fits well within the context of the building and the neighborhood.
The building is not an amenity-driven project, he said, despite its onsite gym and parking. Rather, Ganahl said, they see the neighborhood and the city as a better selling point. South 2nd Street is a draw all by itself.