Milwaukee Journal Sentinel: Developers propose 350 apartments on Park East site
According to Tom Daykin, writer for the Milwaukee Journal Sentinel, Fair Market Development LLC (“Fair Market”) and Robert Schultz are proposing to construct over 350 apartment units on county-owned land in the Park East (bordered by North Milwaukee Street, North Water Street, East Ogden Avenue, and East Lyon Street). Some of these apartment units will be marketed to moderate-income renters.
Fair Market’s proposal is still pending approval from the County Board. Once approved, Fair Market suggests that construction could begin as early as 2010.
Robert Schultz has been involved in two other downtown-area developments: Teweles Seed Tower Apartments in Walker’s Point and River Renaissance in the Historic Third Ward.
In another post this month, I am featuring an article about Mandel Group’s Corcoran Lofts in the Historic Third Ward. During the mid-2000s, we have seen a spike in apartment-to-condominium conversions in the downtown community. It is a positive sign for our downtown to see more interest in creating apartment units to replace what was converted years ago. For years, renters had very few options for places to rent. It is very important for downtown’s economy to create an atmosphere where owners and tenants can both live.
Daykin provides more details about Park East’s latest developments. Click here to read about these proposed apartments>>>
-----
Labels: Real Estate
0 Comments:
Post a Comment
<< Home