Real Estate
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
City Plan Commission Approves Zoning for Columbia St. Mary’s
Resolution 060259 approved the Detailed Planned Development known as Columbia St. Mary’s Prospect East, Phase 1 which will move on to ZND for further approval. The resolution includes the plans for a 572 stall parking garage to support the Water Tower Medical Commons facility. Although it was approved it was done so with the understanding that before the Common Council gives final approval, issues dealing with the side facing Terrace St. will need to be resolved with the neighborhood. Additionally it included mention of three lots near the structure and the future plans to develop those lots as residential housing. A second resolution of interest was Alderman Mike D’Amato‘s request for a change in zoning from clean shaved to rough bearded. All kidding aside Alderman D’Amato appears to be looking forward to leaving public life in the near future.
Jan 8th, 2008 by Dave Reid
Beerline Development Continues…
Although development within the Beerline corridor has slowed there is still ongoing construction. The Edge which is just now starting to rise out of the ground intends the first phase to be completed by November 2008. The Bluff Homes construction is nearing completion and more than half of the units have been sold. The completion of these developments during this market downturn show promise for the Beeline. Further in spite on the slowdown the future is still looking up for the Beerline as two condominium developments and additional Riverwalk expansion are still in the works. Specifically the potential developments include the Pleasant Street Market and Riverboat Landing. The most recent public report regarding Pleasant Street Market dated June 30, 2007 indicated it was undergoing final design review and obtaining permits but as of today no development of the site has occurred. The Riverboat Landing will have 67 residential units and two retail units once built. Currently only 14 residential units are under contract and with the broader residential market in a backslide it is likely that at least another 20 units will need to be sold prior to breaking ground. Additionally the design of the Brewers Point Apartments Riverwalk was approved during the September 10, 2007 City Plan Commission meeting and construction should begin soon. The development of the Beerline has been one of Milwaukee’s success stories in recent years and if the potential developments move forward it will be on track for continued growth in the future. Articles + Reference Pleasant Street Market Nehrings are in the market for a new venture Owners of Upscale Food Stores Plan New Grocery Along River Near Brewers Hill The Edge Construction gets under way on riverfront condo project
Dec 31st, 2007 by Dave Reid
Photos of The Residences on Water Construction
The View Down Water Street Originally uploaded by compujeramey There are a lot of photos of the construction of the Residences on Water being taken. Dave Reid of the Milwaukee Development Update has done an excellent job snagging images of the construction to-date. I recently was over there to snag a few pictures between classes and have added them to a Flickr set for your viewing pleasure. Of course, because the community generates the best coverage, you can add your photos to the mix by uploading them to Flickr and tagging them “The Residences on Water“. Dave and I have both done this and you can find our photos available together by browsing the tag. Please feel free to add yours to the growing collection.
Dec 19th, 2007 by Jeramey Jannene
Last Days of the Pfister & Vogel Tannery
Last Days of the Pfister & Vogel Tannery Originally uploaded by compujeramey I updated my Flickr set of photos of the Pfister & Vogel Tannery decontruction/The North End construction. They’re older images, and I still have more to add, but they’re a start for those of you that can’t see it in person. In case you’re wondering the tannery is now more or less gone (there is rubble left). Once the deconstruction workers get done pulling apart all the pieces to be recycled construction will start. I’m going to try and swing by today to get some pictures of their latest progress.
Dec 6th, 2007 by Jeramey Jannene
Eight-story building proposed for Riverwalk
Green development proposed for downtown Milwaukee.
Dec 1st, 2007 by Dave Reid
Urban Outfitters To Open December 14th
Kenilworth Originally uploaded by Volá Berlín OnMilwaukee.com reports that Urban Outfitters will open on the east side of Milwaukee on December 14th. The store is located in the bottom of the Kenilworth Square Apartments (one UWM’s new dorm buildings) on the corner of Prospect and Kenilworth. This should help give UWM students yet another excuse to avoid driving out to Mayfair Mall and instead walk or ride the included-in-their-tuition bus to yet another developing east side location.
Nov 19th, 2007 by Jeramey Jannene
Mark Chmura and Company Buy Building at Pabst
Pabst Brewery Originally uploaded by compujeramey Former Green Bay Packer Mark Chmura, his brother and real estate broker Matt Chmura, and, developer and son of former Milwaukee Brewer Sal Bando, Sonny Bando through their development firm BC Pabst Holdings have purchased a three-story, 28,000 square foot building at the former Pabst Brewery on the edge of the Park East neighborhood. The building previously known as Building 14 was used for Pabst research and development. Chmura and company are already lining up tenants for the office building and may open a conference center in the 1,200 square foot penthouse that has skyline views. The tenants are apparently interested in the access the building provides to traffic from Interstate 43. We at Urban Milwaukee hope someday it’ll be able to leased based on the vibrancy of the neighborhood it’s in. I was surprised to learn that not only does the sports-supported triumvirate own this building, but they also together own the Germania Building at 135 W. Wells St. and the Iron Block Building at 200 E. Wisconsin Ave in downtown Milwaukee. So much for jock stereotypes, these three appear dedicated to urban redevelopment of historic developments. I’m happy to see their on-board with the Pabst Brewery redevelopment, which is undoubtedly going to serve as a catalyst for redevelopment of the rest of the Park East neighborhood. The Small Business Times and the Journal Sentinel each have stories on the purchase. NOTE: The building purchased is pictured in the attached image. It is the short building partially cut off on the left-hand side. If you have a better image, let us know.
Nov 19th, 2007 by Jeramey Jannene
The Residences on Water Are Rising Fast
The Residences on Water Originally uploaded by compujeramey The Residences on Water are rising fast, leading me to believe that the building actually will make its spring 2008 opening date. I walked by the building tonight on the way home from dollar burger night (every Tuesday) at Bar Louie. I was impressed at how quickly the building is rising. A couple quick facts… The building has 31 condos ranging from $234,000 to $2,300,000, of which 8 have been sold. The condos will occupy the top four floors. The Staybridge Suites hotel will occupy the middle six floors and include 128 rooms There will be a rooftop garden for residents and hotel guests. There will be 14,000 square feet of retail space The building is being built using the new ER Post Structural System that enables alternate floors to remain column free and allows for rapid build times from the use of precast trusses, the fact that it can be assembled in all weather conditions, and the requirement for fewer pieces. If you buy the penthouse of penthouses in the development for $2,362,100 you get a private 2,400 square foot root-top green space. Apparently there are two roof-top green spaces, presumably divided by some kind of massive HVAC unit. Developer Development Opportunity Corp of Fort Myers, Florida purchased six parcels of land for the development. Five of the parcels and a city-owned alley were purchased from the Milwaukee Redevelopment Authority for $443,340. The other parcel was a 13,000-square-foot parking lot purchased from the 1101 North Market Street Partners for $1.2 million. The 1101 North Market Street Partners also had previously sold the former Blatz Wash House located adjacent to the new development at 1101 North Market Street to SSG Properties Inc. of Pewaukee for $4.2 million in 2003. SSG Properties is too say the least, excited. The Blatz Wash House might finally get the attention it deserves with the increased foot traffic in the area. No word yet on who might be occupying the retail space. I don’t think it will take long to find a tenant for the site because there isn’t much else in the way of retail space in that area on Water St. coupled with thousands of drunk people at bars every weekend, MSOE dorms just around the corner, and a growing number of condos being developed in the area. The most important aspect of the development is that it replaces a surface parking lot with a large building that increases neighborhood density, which makes everything around the new building better and continues to expand upon a growing downtown area. The visual perception of downtown used to end at the 1000 North Water Street building, but will now continue north one more block to The Residences on Water. Dave Reid of the Milwaukee Development Update has a Flickr photo set up already and a blog post.
Nov 6th, 2007 by Jeramey Jannene
