Gorman’s $20M M-F Project in Pabst District Wins Key Approval
by Adriana Pop, Associate Editor
The Milwaukee Plan Commission has approved Gorman & Co.’s proposal to develop a $20 million, high-end, apartment building in the Pabst brewery redevelopment district, The Business Journal reports.
Designed by Eppstein Uhen Architects of Milwaukee, the Frederick Lofts project (pictured at right) would rise on a vacant site at the northeast corner of North 9th St. and West Juneau Avenue. The complex would feature 100 apartments, five live-work office storefront units, 120 surface and underground parking spaces, a rooftop deck, a clubhouse and a health club. Construction is expected to begin next spring and be completed about a year later.
Frederick Lofts will target a higher-income clientele than other Milwaukee multi-family properties developed by Oregon, Wis.-based Gorman. Monthly rents are expected to venture into the high $900s for efficiencies, $1,275 for one-bedroom apartments and around $1,750 for two-bedroom units.
Gorman’s other projects at the 20-acre Pabst site include Blue Ribbon Lofts, a multi-family property consisting of 95-units, most of them affordable apartment building, and the 90-key Brewhouse Inn & Suites. Considered one of the world’s greenest neighborhoods, the Pabst district has received LEED Platinum designation from the U.S. Green Building Council.
In regional news, BizTimes, BizTimes reports that Opus Group is partnering with Harrison Street Real Estate Capital L.L.C. of Chicago to develop Varsity Quarters, a 162-bed private student housing complex near the University of Wisconsin-Madison campus.
Designed by Eppstein Uhen Architects, the six-story building is scheduled to open in time for the 2014 school year. Opus Development Co. L.L.C. is the project’s developer, while Opus Design Build, L.L.C. is managing construction.
Rendering: Gorman & Co./Eppstein Uhen ArchitectsTags: affordable housing, Architecture/Design, Commercial, Consumer, Developers, Development, Eppstein Uhen Architects, Finance/Investment, Frederick Lofts, Gorman & Company, Green, Harrison Street Real Estate Capital, Hospitality, Investors, Latest Headlines, Local, luxury, Managers, Milwaukee, Milwaukee apartment, Milwaukee Lead Story, multi-family, Opus Development, Owners, Policy, Professional, Regional, Residential, Student