The First Place on the River condo development, which was placed into receivership a year ago, has been re-named The Point on the River. A sales center for the project will open in February as part of a public grand re-opening for the project.
The 12-story, 147-unit development is located at 106 W. Seeboth St. in Milwaukee, at the intersection of the Milwaukee and Menomonee rivers.
After the project entered receivership, the original developer, KeyBridge Development, was replaced with Milwaukee-based Mandel Group to finish the project.
The project is 80 percent complete and the sale of 40 of the condos have closed. The condos range from 700 to 4,000 square feet of space and prices range from $159,900 to $1.5 million.
"The Point on the River offers buyers the opportunity to live an upscale, urban lifestyle at one of downtown Milwaukee’s most desirable locations," said Bob Monnat, chief operating officer of Mandel Group. "The project’s new name and identity really sum this up as its ideal location provides combined views of the river and city skyline from nearly all units, as well as easy access to the Third and Fifth Ward riverwalk, shopping and dining. Mandel Group has been an active player in bringing thousands of new residents to Milwaukee’s downtown neighborhoods. We are very confident in the success of The Point, which has been attracting as many inquires as all of our other downtown properties combined."
A private movie theater with a 100-inch viewing screen, a Wii entertainment system and wireless Internet was added to the building. Other amenities include a board room with a wet bar, wireless Internet and a 50-inch flat screen television, stereo system with iPod dock and a well-equipped kitchen with warming drawers for special events, a fitness center with a 50-inch flat-screen television and a controlled access lobby with concierge.
