Three-story building planned for vacant site at the northwest corner of North 27th Street and West Lisbon Avenue.
Lisbon Terrace LLC, a joint venture of Vangard Group LLC and Commonwealth Development Partners LLC, plans to build a three-story building on a vacant 32,555-square-foot site at the northwest corner of North 27th Street and West Lisbon Avenue with 14 two-bedroom apartments, 10 three-bedroom townhouses and a third floor common area with a media room, an exercise facility and meeting space.
The site is consists of several vacant lots and a city-owned parking lot that the developer plans to purchase for $32,500. The $5.6 million development will be financed in part through affordable housing tax credits allocated by the Wisconsin Housing and Economic Development Corp.
The apartments will have 1,000 square feet of space and the townhouses will have 1,500 square feet of space. Rends will range from $565 to $695 per month, depending on the income of the tenants.
