Milwaukee-based
Three Leaf Partners has started construction on a 247-unit apartment building project in West Allis — one of the company's largest to date.
The firm celebrated the milestone Monday with a groundbreaking ceremony, which doubled as a solar eclipse after party, project leaders joked.
The project is located at 8530-56 W. National Ave., the site of the former Clark Oil corporate headquarters.
Over the course of the next 18 months, the project's construction crews, led by Milwaukee-based
Catalyst Construction, will assemble the building's 50 exterior walls, 5,000 interior walls and 56,000 studs. Project leaders are estimating the six-story building will be completed late 2025.
Amid a challenging lending environment, Three Leaf tapped into four banks to come up with its construction loan, project leaders said, in addition to equity investors, tax incremental financing from the City of West Allis and a loan from the Environmental Protection Agency.
In total the project is expected to cost $66 million, up from around $48 million when it was proposed in 2022.
The apartment building, known as Revv, will have a mix of studio and one-, two- and three-bedroom market rate apartments.
"One of our goals for this community is to grow and, with our 11 square miles, we're pretty much landlocked, so we build up," said West Allis mayor Dan Devine. "As we see more restaurants, coffee shops, breweries, little unique business popping up, they need population density to have a customer base. This National Avenue corridor is one we put a lot of focus on."
[caption id="attachment_588200" align="aligncenter" width="1279"]
Construction site at Three Leaf Partners' West Allis project.[/caption]
