by Adriana Pop, Associate Editor
Vetter Denk Architects Inc., a Milwaukee-based design and development company, recently offered details of its proposal to build 180 apartments in Appleton, the Appleton Post Crescent reports.
The complex would consist of 136 market-rate apartments, 20 affordable units and 24 luxury apartments, as well as 240 underground and off-street parking spaces. Vetter Denk’s plan calls for five three-story buildings on an 8.3-acre riverfront parcel, previously the location of a dairy plant that closed a decade ago.
If approved, the project is expected to break ground late this year. Vetter Denk has selected Oshkosh-based Ganther Construction to serve as general contractor. Estimated development costs range between $15 million and $25 million.
“Our focus and love is creating neighborhoods and long-term community value that is pedestrian oriented,” co-founder John Vetter told the newspaper. “Our firm has taken an interest in post-industrial towns that grew up around these mills and connecting the area back with nature.”
In retail news, HSA Commercial Real Estate of Chicago has agreed to buy Plaza 173 in Brookfield from Wells Fargo. According to The Business Journal, HSA expects to close on the deal in June. Wells Fargo acquired the property for $4.8 million in a foreclosure auction last year.
Located at the corner of Blue Mound and North Calhoun roads, the 10-acre center includes Dunham’s Sports, Men’s Warehouse and Famous Footwear among its tenants. Mid-America Real Estate-Wisconsin L.L.C. handles leasing for the property.
HSA’s recent retail activities also include the start of construction last month on The Mayfair Collection, a $46 million project in Wauwatosa (pictured). City officials have long targeted the former industrial site along Highway 45 for redevelopment.
HSA will transform warehouses into about 237,000 square feet of retail, and add another 33,000 square feet of newly constructed space, the Business Journal reported. So far Dick’s Sporting Goods, Ulta and Nordstrom Rack have committed to lease space at the project. Phase one is scheduled to open in spring 2014.