Graham Kilmer
Plats and Parcels

More Apartments in Walker’s Point

A big week of real estate news as a bunch of projects move forward.

By - Oct 7th, 2018 05:48 pm
214 E. Florida St. Photo by Jeramey Jannene.

214 E. Florida St. Photo by Jeramey Jannene.

An industrial building will be redeveloped into apartments in Walker’s Point.

Minnesota-based Roers Companies will redevelop the 100-year-old complex at 214 E. Florida Street into 116 apartments known as The Maxwell.

The 118,419-square-foot building was sold for $3.8 million, Tom Daykin reported in the Milwaukee Journal Sentinel.

Construction work on the $27 million project is expected to begin within a month.

Villard Apartments Could Get Half-a-Million Dollars Through New TIF

An affordable housing project called 3600@Villard may get $500,000 in financing from the City of Milwaukee through a new, developer-financed tax-incremental financing district that’s been proposed.

The move would allow Index Development Group to complete together the financing needed to advance the $7.3 million project, Daykin reported.

The city has already helped the project along. As Jeramey Jannene reported in June, the city gave the firm a discount on a previously approved land sale. In January of 2017, the Common Council’s Zoning, Neighborhoods and Development committee approved the original land sale and an associated zoning change.

Foxconn’s Eyes are Getting Bigger in Milwaukee

Foxconn hasn’t moved all its employees into its North American headquarters at 611 E. Wisconsin Avenue, nor has it hired a designer for it’s planned renovations, and yet, an executive for the company is already saying they will need more space.

Alan Yeung, director of U.S. strategic initiatives for Foxconn, said the firm is looking for more space in the future beyond the seven stories and 133,000 square feet they already have, Sean Ryan reported in the Milwaukee Business Journal this week.

Foxconn owns the entire city block the building is on, including a large surface parking lot. Ryan quotes Mayor Tom Barrett endorsing a new building for the site in his piece, with the caveat that the mayor hasn’t spoken with anyone at Foxconn about this.

Zund America Breaks Ground

Manufacturer Zund America broke ground on it’s new North American headquarters in Oak Creek this past week.

Zund America’s new 61,000-square-foot building is scheduled for completion in September 2019. The firm, manufacturers die-cutting equipment and associated supplies, employs roughly 70 people at its current location in Franklin.

Affordable Senior Apartments in Tosa

A developer is proposing a approximately $30 million affordable housing development for seniors in Wauwatosa.

Matt Hammond of MSP Real Estate Inc. plans to use an industrial site once home to Winding Roofing for the development, Corrinne Hess reported for BizTimes. The site is located on the 6400 block of River Parkway.

MSP would develop 18 townhomes and 118 apartments with two-thirds of each earmarked as affordable units. Hammon and MSP will go after $14 million in low-income housing tax credits for the projects.

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