The city of Milwaukee announced today that its Redevelopment Authority has selected Rule Enterprises LLC to develop a vacant two-acre site at Freshwater Plaza in the city’s Harbor District.
Located at 200 E. Greenfield Ave., the site is just south of the Cermak Fresh Market grocery store at 1236 S. Barclay St.
Rule Enterprises is working on plans for a mixed-income apartment development at the site, said chief executive officer Brandon Rule. The building will be 5- to 6-stories tall and 125,000 to 150,000 square feet in size, with about 140 apartment units, a mixture of low income housing tax credit units and market rate units, he said. Rents could range from $400 to $2,000. The apartments will be on the building’s upper floors. The first floor could including parking, retail space and a common area for the apartment residents.
Rule Enterprises will apply for low income housing tax credits in January and hopes to break ground on the project by the end of 2024, and complete construction by the end of 2025, Rule said.
The site is near other projects that Rule Enterprises has completed, including the Seven04 Place Apartments at 704 W. National Ave. and the Thirteen31 Place Apartments at 1331 W. National Ave.
“The significant momentum in the Harbor District is creating exciting new opportunities for residents, businesses and workers,” said Lafayette Crump, commissioner for the Department of City Development. “Rule Enterprises is a respected development partner in the city and I am looking forward to working together to realize the full potential of Freshwater Plaza.”
