New East Side Townhomes

Four new townhomes are rising on the north end of the Downer Avenue commercial corridor, and unlike many other recent housing developments, the units are for sale as condominiums.

Dubbed the Park Place Townhomes, the units come in two configurations.

The 1,711-square-foot, three-story units in the middle of the building are listed for $675,000 each. When finished in the coming months they will have two bedrooms and three bathrooms (two full).

The 1,160-square-foot, two-story units at each end of the building are listed for $550,000.  Those units will have two bedrooms and two bathrooms (one full).

“An incredibly rare invitation to enjoy the comforts of modern luxury tucked into one of Milwaukee’s most charming neighborhoods. These well thought out homes leave no detail behind,” says the listing from Keller Williams agent John Molitor.

A private, two-car garage is located beneath each unit and accessible via N. Downer Ave. The front doors of the units face E. Park Pl. and are currently addressed as 2604 E. Park Pl.

The building previously on the site, a three-unit structure built in 1895, was effectively destroyed in a 2019 fire. The blaze was started by a transient tenant who also attacked the property owner during the incident. The fire did $1.1 million in damage to a structure assessed for $395,000.

An affiliate of Seattle-based Bridge33 Capital purchased the 7,200-square-foot lot and fire-ravaged structure for $230,000 in November 2020.

Patera is serving as the architecture firm on the project. Merchants Plat Builders is serving as the general contractor.

The project is an auxiliary investment to Bridge33’s neighborhood anchor. The firm acquired much of the Downer Avenue commercial strip in April 2020 for $11.25 million. It now owns the properties at 2551-2597 N. Downer Ave. and 2608-2650 N. Downer Ave., which includes the spaces occupied by the theater, Boswell Book Company, Cafe Hollander, Starbucks, Stone Creek Coffee and Pizza Man.

It added apartments to the second floor of the buildings on the 2500 block, converting what was office space to residential units. The one-bedroom, one-bathroom apartments are available for $1,550 per month, according to a listing on Keller Williams’ website.

Photos

2020 House Photos and Site Plan