The Sterling is an 11-story mixed-use tower featuring residential condominiums and street-level retail. The building was completed in 2006 and includes 114 condominiums and 9,764 square-feet of retail space. The Sterling was developed by New Land Enterprises.
The building features 213 parking stalls, including stalls that replaced those formerly available as part of the City parking lot previously on the land.
The retail space, as with many New Land Enterprises developments, has faced challenges in its leasing. One of the two spaces has never been leased. The other was leased for the first time in 2009 by a Snap Fitness franchise. The condominium containing the retail space is owned by Van Buren Management (as Korbacq, LLC). Van Buren Management, a recurring New Land Enterprises partner, acquired the site in 2009 for $489,000.
The project was controversial during its development because New Land Enterprises had won a public-bidding process to develop the then city parking in 1998, but in 2002 after no progress by New Land, the City of Milwaukee began negotiating with D2 Realty Services Inc for the land. After then Alderman Michael D’Amato intervened New Land was able to keep the land. The move was controversial because of past donations to D’Amato by New Land’s Boris Gohkman and Walter Shuk, and the inaction on the part of New Land.
New Land Enterprises was ultimately able to keep the land, paying $156,000 for the site.
The original project developer has sold all of the residential condominiums.
- The Business Journal Serving Greater Milwaukee – “New Land adds condos” – Staff – July 13th, 2003
- Milwaukee Journal Sentinel – “Alderman’s Aid Boosts Lagging Developer” – Bruce Murphy – July 14th, 2003
Content referencing The Sterling
There might be a new development style taking hold in Milwaukee. A lot of focus is put on transit-oriented development, and the power of a station to improve the development of a neighborhood, but what about residence halls? Do they offer similar development when built in an urban setting? At least in one part of Milwaukee's East Side neighborhood, it appears so.Jul 16th, 2009 by Jeramey Jannene
A sampling of projects in varying states of completion showed that over 200 recently completed or under construction condominium units have not been sold. A look at the data indicates that In many cases the high priced units have gone un-sold. Clearly the market downturn has slowed sales but this may also indicated a demand […]Jan 14th, 2008 by Dave Reid