M&R Development Welcomes First Residents to Wisconsin Community
The 236-unit luxury property in St. Francis has secured 21 leases since its completion on April 1.
42 Hundred On The Lake. Image courtesy of M&R Development
After opening earlier this month, M&R Development’s 42 Hundred On The Lake community in St. Francis, Wisc., has landed its first residents.
M&R tapped RMK Management to oversee the community’s leasing and property management.
Diana Pittro, executive vice president at RMK, told Multi-Housing News that the community has secured 21 leases so far after opening on April 1. Pittro also told MHN that 42 Hundred On The Lake has maintained strong interest every week through walk-in tours and email inquiries.
The 236-unit luxury community offers one- and two-bedroom floorplans that range in size between 583 and 1,204 square feet. Units were built with marble bathroom vanities, full-size washers and dryers, walk-in wardrobes and patios or balconies.
The community’s amenities include a two-story clubhouse, coffee bar, private lounge, business center, game room, fitness center, package room, two courtyards, bike storage, underground parking and an infinity edge pool that’s scheduled to open in May 2021.
Located at 4200 S. Lake Drive, 42 Hundred On The Lake has access to the 125-mile Oak Leaf Trail and is across the street from St. Francis High School. The community also is located near Interstate 94 and offers a 15-minute drive to downtown Milwaukee.
Along with the first move-ins, M&R also opened two furnished models of the community, a one- and two-bedroom unit that both feature work-from-home spaces. The move-ins come a year after M&R broke ground on 42 Hundred On The Lake in April 2020. The developer also partnered with Campbell Capital Group as co-developers, while tapping Stevens Construction to build the community.
42 HUNDRED’S SECOND PHASE
Pittro also told MHN that the phases were based on the footprint of the property, with the first phase including 124 units, while the second phase will include 112 units. Pittro also told MHN that Phase II includes the community’s activity courtyard and pet spa, which should be completed by the end of May.
RMK has already started pre-leasing efforts for the second phase units and is expecting those move-ins to begin in June.
Anthony Rossi Sr., managing partner at M&R, said in prepared remarks that 42 Hundred On The Lake is the company’s first ground-up development in Wisconsin.
M&R has since broken ground on a 270-unit apartment community in Madison, Wisc., also with Campbell Capital Group, in June 2020.
