Real Estate
Activity at 4th and Wisconsin
Despite the market downturn The Ghazi Company appears to be pressing forward with their Catalyst project. Back in November they launched the project website CatalystMilwaukee.com and today they began advertising the project with a large banner on a neighboring parking garage. The project includes 150,000 square feet of retail space to be leased out and approximately 200 condominiums and apartments to be leased or sold which is a considerable undertaking in any market but more difficult as the country faces a possible recession. Despite this these increased marketing efforts show The Ghazi Company’s willingness to carry on with the Catalyst project and that potentially Milwaukee’s market is still strong enough to support these new developments.
Mar 4th, 2008 by Dave Reid
Aloft Development Plans to Break Ground Soon.
The nine-story Aloft Hotel and condominium project is now on track to break ground in April with a target completion date of May 2009. To facilitate pre-sales Ruvin Development has launched The Residences Above website which includes floor plans, pricing and contact information for potential buyers. According to the website the nine condominium units will run from $540,000 to $1.2 million and include a long list of amenities such as an indoor pool, boat slips, a rooftop terrace, and a housekeeping package. In addition to the hotel and condominiums this project will feature two first floor retail spaces targeting a bar or restaurant occupant. The 1,490 square feet retail space is located on the Riverwalk and should make it a prime spot for an entertainment destination. The 1,690 square feet space is located along Old World Third St and will tie into the Old World Third St. entertainment district. The spaces are currently being marketed by CB Richard Ellis and are leasing for $19.50 per square feet and $20.00 square feet respectively. The Residences Above http://www.theresidencesabove.com
Mar 1st, 2008 by Dave Reid
Terrace Row Condominiums Construction Nears Completion
Construction of the Terrace Row Condominiums at the intersection of Kilbourn Ave and Cass St appears to be near completion. Workshop Architects’ design utilizes styles of the current day and although very unique for the neighborhood adds to the urban fabric. Building on what was a vacant lot the project appropriately brings the units to sidewalks edge and does a adequate job in hiding the parking. Specifically the project utilizes a narrow alley behind the new structure to allow for access to the garages. Although, the first floor is a somewhat bleak the design includes street facing windows as well as pedestrian access and once landscaping is added it should improve the appearance. Further large windows on both the second and third floor allow for additional “eyes on the street” adding to the security of the neighborhood. Now that construction is near completion it is possible to see how the architect was attempting to fit the urban environment within the constraints of the project requirements. The project includes four units that run in price from $1.25 million to $1.35 million and have extensive list of features. Specifically each unit will have a private roof terrace, private elevator, wood-burning fireplace, private balcony and at least a two car garage. Despite the solid design and long list of features according to the projects website none of the units have been sold. The success or failure of this project financially and the success or failure of this project architecturally are separate issues as the building is succeeding architecturally by addressing the street, hiding parking, and allowing for privacy.
Feb 25th, 2008 by Dave Reid
Zoning Committee Responds to Court Ruling
This meeting of the Zoning, Neighborhoods & Development Committee was quite unusual in that it was held in response to the court case Dawn McCarthy vs. The City of Milwaukee City. The case revolves around the city’s handling of a minor modification to the Detail Planned Development known has Downer Avenue Redevelopment Phase I. The court ruled that there were possible open meetings violations during some Historic Preservation Commission subcommittee meetings so to insure all information was publicly heard the judge ordered this meeting to be held. It is important to note the judge did not stop construction and didn’t expect the city to vote on the resolution in question. Peter Kovac, one of the Plaintiffs in the case, made comments indicating the city had re-opened the issue prompting Alderman Mike D’Amato to respond by saying “you seemed to of re-opened the whole issue”. Alderman Bob Bauman was heard saying “let him go on for two hours” expressing his frustration with the repetitive testimony and the proceeds. Despite Alderman Michael Murphy‘s concern over setting a precedent by passing a resolution in response to the direction of the court, the committee unanimously approved resolution 071365 reasserting the previously passed resolution.
Feb 18th, 2008 by Dave Reid
Higher Education Expanding in Downtown Milwaukee
Both Marquette University and the University of Wisconsin-Milwaukee have been working on multiple expansions within downtown Milwaukee. Marquette University has two major initiatives including the $100 million Discovery Learning Complex and the new Marquette University Law School. The Discovery Learning Complex will house the College of Engineering on recently acquired land at the 1600 block of West Wisconsin Avenue. This effort has received a series of large donations including $50 million from one family. Additionally Marquette University has received large gifts including $30 million from Joseph J. Zilber to support the development of the new Marquette University Law School at 13th and Clybourn. The University of Wisconsin-Milwaukee intends to open a new School of Public Health on land near the Brewery development. This initiative has received a $10 million gift from Joseph J. Zilber to push the project forward and insure it is developed downtown. These universities investment in downtown Milwaukee indicates a growing demand for higher education opportunities within the city. In apparent response to these expansion two new student housing developments have recently brought forward. First The Scion Group proposed and addition to 2040 Lofts that will have 100 rental units to be built on an existing surface parking lot to the north of 2040 Lofts. This project focuses on attracting Marquette students and building on the success of the existing 2040 Lofts. The second project announced by New Vision Development Co. is estimated at $75 million and it will be located at N. 6th and W. State streets. Although it will generally target MATC students, it will be open to students from Marquette University, Milwaukee School of Engineering and University of Wisconsin-Milwaukee as well. It is clear that as these universities continue to expand downtown they will continue to bring additional projects to downtown Milwaukee.
Feb 13th, 2008 by Dave Reid
City Plan Commission Approves Downer Avenue Plan
The first item on the agenda, Resolution 070963, was the heavily debated Downer Avenue Redevelopment Phase II project. The resolution would recommend a change of zoning from General Planned Development to Detailed Planned Development and include a 7-story hotel, an 11-story residential tower, 5 town homes, and a 4-story addition to the Mulkhern building. Architect Scott Kindness indicated that the Chancery building currently retains only about 50% of its original facade and that they “plan on taking down the entire building to allow this to happen” but that they will “rebuild the 1936 version of the Chancery building”. Clearly he was referring to rebuilding the facade along the first two floors as they will add additional floors with a setback allowing the street level massing to appear similar to its original design. He also indicated the project will most likely break ground in the Spring of 2009 as both pre-sales for the condominiums and finding the operator for the hotel will take time and are dependent on approvals. Architect Matt Rinka explained that the redevelopment of the Mulkhern building would include the 4-story addition, demolishing the drive through and ramp, creation of an urban garden, and will convert the existing upper floor to medical uses. Despite multiple iterations, and numerous meetings opposition to this change in zoning was brought by local community members who have fought this project from its beginning. Alderman Michael D’Amato pointed out that that “the use is consistent with the General Planned Development, the height is consistent with the General Planned Development, and the massing is consistent with the General Planned Development” further he indicated the plan is simply receiving opposition from the same neighborhood members who opposed this project from the beginning indicating that taking further input was just a delaying tactic and at this point served no purpose. He appealed to the commission that “the anchors on Downer Avenue are dying” and that “I hope you will finally allow progress on Downer Avenue.” The Commission took his advice and recommended it for approval with the conditions that the developer works to shorten the balcony and continues to work with staff on improvements. Another item of particular interest, Resolution 071292, pitted groups of citizens with positive intentions against each other. Specifically groups representing low income housing for the homeless and mentally ill ran into opposition from green and bicyclist enthusiasts due to the site location. The property in question was a city owned lot near the Kinnickinnic River that various groups had been planning to use for bike trails and green space. Alderman Tony Zielinski appeared upset over the proposed use of land and went on to say “we are setting a dangerous precedent by developing our green space”. The commission listened to his advice and held the resolution asking the Department of City Development to work with the developer to look for another site or improve the facility’s design to work better with the trail.
Feb 12th, 2008 by Dave Reid
Pfister & Vogel Concrete Crushing
Building Rubble Originally uploaded by compujeramey The remains of the concrete from the Pfister & Vogel Tannery are being ground up over the next month. The resulting rubble will be reused and recycled to build the foundation for the North End development on the site. To accomplish the task the Mandel Group has brought in a 13-foot tall, 72-ton quarry grade crusher that will chew through 1,500 tons of concrete a day. Awesome.
Feb 10th, 2008 by Jeramey Jannene
2008 Downtown Planning Process Begins
The Department of City Development recently held a Downtown Plan Update Kick-Off event introducing the upcoming planning process that will set the stage for Downtown Milwaukee’s development for the next ten years. As part of the kickoff DCD released the Downtown Plan Update Report which pointed out the successes of the 1999 Downtown Plan such as the revamped Intermodal Station, the removing of the Park East Freeway, the Riverwalk expansion and the Milwaukee Public Market. The report also pointed out ongoing issues that still need to be addressed such as the abundance of surface lots, the lack of affordable rental and condominium units, and the need for further pedestrian improvements. The 1999 Downtown Plan proved how effective this process is in improving the City but the time has come to update it for the next ten years. Continuing on these efforts the City is beginning work on the 2008 Downtown Plan. As part of this planning process the city is conducting an online survey asking residents for their input into the process. If you have thoughts on what will help Downtown Milwaukee’s continued growth you can participate in the survey by completing the Downtown Plan Community Survey.
Jan 24th, 2008 by Dave Reid
Contentious Downer Ave. Parking Garage Rises
New Land Enterprises‘ $55 million Downer Ave. development project is going up quickly despite pending legal action. The first phase consists of a parking garage, designed by Scott Kindness of Workshop Architects, that includes first floor retail and has undergone numerous redesigns in an attempt to better fit the neighborhood. Despite the changes some neighbors felt these concessions didn’t go far enough and filed a lawsuit against the City of Milwaukee and DAPL LLC seeking to stop construction . The results of today’s hearing is unknown at press time but it is seems New Land Enterprises and the City of Milwaukee believe this case will be dismissed as development has moved ahead at a brisk pace. Despite the contentious nature of the project the overall goal of adding density and new business to the Downer Ave. district should have the long run impact of bringing vibrancy and business back to this urban commercial district. UPDATE A second hearing will be held on 2/1/2008. Additionally the judge felt there was some wrong doing on the City’s part though as of yet didn’t issue an injunction that would of stopped construction. More details can be found in the jsonline article. Related Links Historic Preservation Commission Meeting – Monday, May 14, 2007 Resolution 061440
Jan 16th, 2008 by Dave Reid
Condominium Sales Update
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 for units priced at an affordable level. Development # Units % Sold Status City Green 44 20% Ready to Move In First Place on the River 184 56% Ready to Move In Park Terrace Bluff Homes 16 56% Ready to Move In Park Terrace Row House 21 71% Ready to Move In Residences on Water 31 29% Under Construction River Renaissance 81 55% Ready to Move In 601 Lofts 83 61% Ready to Move In Sterling 112 98% Ready to Move In University Club 56 89% Ready to Move In Data was not available for the The Breakwater, Park Lafayette, Flatiron, Union Point, The Edge, and Kilborn Tower
Jan 14th, 2008 by Dave Reid
Jefferson St. Garage Receives Long Overdue Face-lift
Inland Companies has begun redevelopment of the mixed-use building located at 770 N. Jefferson St. The project will update the building’s facade allowing for better street access to the building and an will have an updated look to better support first floor retail. This update has long been needed because despite this building being located one of Milwaukee’s most vibrant streets it has been a difficult location for retail business to succeed. For example, in recent years Fresche Pizza, Howl at the Moon, and Senor Frog’s have all opened and then shortly there after closed their doors partly due to the lack of street level visibility. This redevelopment although small in size could activate the eastern side of Jefferson St. and continue the growth in downtown. More photos of this redevelopment can be found in the Photo Gallery.
Jan 12th, 2008 by Dave Reid
Affordable Housing Projects Approved
Multiple affordable housing projects went before the committee looking to receive approval in to apply for Wisconsin Housing and Economic Development Authority tax credits before an upcoming deadline. One of interest due to the projects quality design was brought forward by United Methodist Children’s Services of Wisconsin. They were requesting a change in zoning to General Planned Development to allow for construction of a 24 unit four-story proposal to be located next to there existing building at 3940 W. Lisbon Ave. Volunteers of America was requesting a change in zoning to General Planned Development to allow for construction of a 65 unit building. Unfortunately this project stood out because it didn’t properly utilize a key location which concerned the committee. Alderman Mike D’Amato said that it “has to have active first floor users” because of the buildings high visibility location at Dr. Martin Luther King Jr. Drive Keefe Avenue. Both of these projects as well as others were approved and will go before the Common Council. Other resolutions of note regarded the Brewery project and the reuse of the 440th site. Resolution 070932 approved the LEED checklist for the Brewery neighborhood and included the properties owned by Jim Haertel. Resolution 071238approved a reuse plan for the area vacated by the 440th that is consistent with the airport’s 1993 master plan. Alderman Bob Bauman was concerned about agreeing to this public benefits conveyance without assurances the County couldn’t then turn it over to a private purpose.
Jan 9th, 2008 by Dave Reid
