Groundbreaking Held For Tallest Mass Timber Tower in Western Hemisphere
Milwaukee solidifies its status as a world leader in mass timber.
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Milwaukee solidifies its status as a world leader in mass timber. Back to the full article.
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Categories: Real Estate
Exciting to hear The Edison has broken ground and that Milwaukee will continue to hold a degree or mass timber dominance.
Copa Vida sounds interesting, and every article I’ve read about The Edison in the past week has mentioned that the LA-based coffee concern already has outlets in Neutral’s two completed Madison projects, Bakers Place and 517 W. Main St. However, a simple Google search, Google Maps search, and a visit to the company’s website does not currently show any Copa Vidas open in Madison. 517 isn’t even expected to be completed until the Summer.
https://copa-vida.com/locations/
Probably just someone in PR jumping the gun and the media not double-checking sources before going to “print.” Leave it to Urban Milwaukee to use the future tense when referring to Copa Vida in Wisconsin! 😉
A question about the footnotes: Can someone help us understand the assessed valuation of these buildings? I realize the distinction between ASSESSED value and MARKET value, but the variation of assessed valuation is pretty outrageous, unless there are some typos! It looks like condo owners may be paying at least $10-20k/year in property taxes, and the businesses from mixed use are paying the remainder to account for the tax assessed value??
333 Water is 31 stories with 333 units, assessed value at only $3.4M?
7Seventy7, 35 stories with 310 units (from other source), assessed value at $88.4M?
Ascent, 25 stories, 259 apartments (from other source) assessed value at $55M? yet cost $128M??
Neutral Edison, planned 32 stories (including one floor for mechanicals), 353 units (from other sources) not yet assessed, but cost over $133M
Couture, 44 stories on the lakefront (!!), 322 units (from other sources), assessed value at only $9M??
As exciting as this project is, with the explosion of high-end apartment buildings in the area I am wondering how big is the market for these residences?
@mpbehar – The assessed values you are seeing are from 2023. We need to pull in new data, especially for those towers that were under construction at the time of the 2023 assessment.
As a quick example of the change – 333 Water is now assessed for $150 million.
One thing I didn’t notice at first blush is a change in the building’s name, from “The Edison” to “Neutral Edison” or, as the Business Journal is reporting, “Neutral.Edison.”
This change is not reflected on Neutral’s website. I have to say, it’s a cheesy step down to include the developer’s name. If this is a sign of things to come and we’re looking at the birth of a “lifestyle brand,” show me the door.