Apartments proposed in downtown Waukesha
Journal Sentinel business reporter Tom Daykin talks about commercial real estate and development.
A development firm is proposing a 56-unit apartment building in downtown Waukesha.
Oregon, Wis.-based Gorman & Co. wants to develop the four-story building on a vacant parcel near the corner of E. Main St. and N. Hartwell Ave., said Ted Matkom, the firm's Wisconsin market president. That site is adjacent to the Canadian National railroad tracks.
The apartments would be financed in part with federal affordable housing tax credits. Developers compete for those credits in annual competitions, the results of which are usually announced in April.
Developers typically sell the credits to raise equity financing. In return, they must provide apartments at below-market rents to people earning no more than 60% of the area's median income.
If Gorman receives tax credits, the firm would develop 47 apartments with below-market rents, and nine apartments with market rents, Matkom said.
The firm wants the city to modify its Central City Master Plan and approve the preliminary plans for the development, known as the Main Depot Apartments.
The Waukesha Plan Commission is scheduled to review the proposal at its Wednesday meeting.
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Indianapolis developer proposes 274 apartments at former Pabst complex
An Indianapolis-based developer wants to build 274 apartments within two separate five-story buildings at the former Pabst brewery complex in downtown Milwaukee.
Milhaus Development wants to develop the units on two vacant lots, at 926 W. Juneau Ave. and 1003 W. Winnebago St., according to new plans filed with the Department of City Development.
Milhaus hopes to begin construction by fall on the $40 million development, said Greg McHenry, director of development.
Check the Milwaukee Assessor’s Office website, which includes tools to look up property assessments.
Find property assessments for other communities throughout the state at AssessorData.org.
The Milwaukee Department of City Development website includes information on the city Plan Commission and Redevelopment Authority.
The Commercial Association of Realtors Wisconsin offers information on commercial realtors and real estate.
The Milwaukee chapter of the Institute of Real Estate Management serves the needs of real estate management professionals
The Wisconsin chapter of the NAIOP Commercial Real Estate Development Association aims to serve developers and owners of commercial real estate.
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