A local real estate firm is proposing a 125-unit apartment complex in Wauwatosa that, if completed, would fill the final developable site in the 69-acre Mayfair Collection development. West Allis-based MSP Real Estate has proposed two four-story apartment buildings on a parcel currently used for parking at the northern tip of the Mayfair Collection development
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The project will serve as the second phase to a project MSP Real Estate recently completed on a neighboring site with 80 apartment units for seniors, many of which are below market rate. MSP did not respond to request for comment on if the units in the new development will be subsidized.
MSP primarily develops and manages senior housing complexes in metro Milwaukee and Madison, according to its website, with most of its other projects consisting of market rate and affordable apartments.
Plans for the Wauwatosa proposal include a combination of studios, one-, two- and three-bedroom units and a community room and fitness room on the first floor.
The plans will go before Wauwatosa's Design Review Board on Thursday.
Mayfair Collection, an effort that began more than 10 years ago to redevelop a former Roundy's warehouse site, has so far had about 400,000 square feet of retail space and 270 apartment units built.
Mayfair Collection master developer Citadel Property Advisors, a Chicago firm spun off from HSA Commercial Real Estate (the original developer of Mayfair Collection), is also