The apartments will be located along the eastern side of North Sixth Street between West Juneau Avenue and West McKinley Avenue, on the west side of the parking structure. Construction is expected to begin in fall when the parking structure is complete.
The development will include micro, one-bedroom and two-bedroom floor plans, including some designed as two-story lofts immediately north of the new arena.
“We couldn’t be more pleased to partner with (Royal Capital president) Kevin Newell and his team at Royal Capital to continue transforming this portion of the city,” Bucks President Peter Feigin said in a statement released Friday morning. “Kevin embodies that entrepreneurial spirit and shares our commitment to building a stronger and more vibrant downtown community.”
The Bucks initially began soliciting proposals from apartment developers last March when the construction manager and design team for the parking structure were named. Royal Capitol was selected from a broad group of both local and national developers interested in contributing to the project.
Newell, founded Royal Capital in 2010, focusing on urban development. He is currently working on a 181-unit residential development in Milwaukee’s Brewer’s Hill neighborhood and is also a partner on a mixed-used development to replace the Mill Road library branch with a new 17,000 square foot library and 55 mixed-income apartments.
“As fellow Milwaukeeans, Royal Capital is exceptionally excited to be a part of this generational development, not just as a transaction, but as a transformational opportunity for our hometown community,” said Newell.