by Adriana Pop, Associate Editor
The Milwaukee Redevelopment Authority has approved Kendal Group Ltd.’s $19.5 million plan to build a 113-unit apartment project north of downtown in Milwaukee’s Beerline district, JSOnline reports. The project would exceeds the area’s density standard of 40 housing units per acre.
Called Walker’s Landing Apartments, the riverside development at 2056-2064 N. Commerce Street would replace two warehouses along North Riverboat Road between North Humboldt Avenue and North Weil Street. Milwaukee-based architect Engberg Anderson is the designer of the complex, which would offer studio, one-bedroom and two-bedroom apartments, as well as 131 parking spaces.
Next, Kendal’s proposal will receive a traffic review from the Plan Commission and the Department of Public Works. If the project receives final approval, Kendal expects to purchase the site by the end of the year and start construction next summer.
In office investment news, BizTimes reports that Sara Investment Real Estate L.L.C. has acquired a 50,000-square-foot office building at Riverwood Corporate Center in Pewaukee. Brookfield-based Palmisano Companies Ltd. sold the property for $4.4 million.
“We purchased it because we like the area that it’s in,” Traci Dalsin, executive vice president for Madison-based Sara Investment, told the newspaper. “We like the market.”
Built in 1999, the three-story building known as Squires III Office Center counts Care Wisconsin and Hills Legal Group Ltd. among its tenants. City records show that the property has an assessed value of $5.8 million, according to BizTimes.
Photo credits: Engberg Anderson