HSI Properties Inc. plans to build a 40-unit apartment building next to The Enclave, the two-building 152-unit apartment complex that it is building southeast of Martin Drive and North 62nd Street in Wauwatosa.
The additional building, to be called The Annex at Enclave, will be a four-story structure built at the southwest corner of Martin Drive and North 60th Street, just east of The Enclave.
All of the units in The Annex will be one bedroom apartments. Rents will start at about $900.
Leasing has gone well for The Enclave, which convinced HSI to plan another building, said HSI principal and owner Brett Haney. The first building at The Enclave, completed in early April, has about 93 percent of the 76 units leased, he said. The second building, which will be complete around Aug. 1, has 33 units of the 76 units leased, he said.
“By fall we’ll be up to 100 percent full in both buildings,” Haney said. “The Wauwatosa (apartment) submarket has been overlooked for some time. There haven’t been a whole lot of quality apartments developed in Wauwatosa (in recent years).”
If approved by the city, construction of The Annex could begin in the fall and be complete in late spring of 2013, Haney said.
HSI is buying a half-acre lot for The Annex from Bartolotta Restaurant Group. A building on the site used for Bartolotta’s office and commercial kitchen will be demolished. Joe Bartolotta plans to relocate his company’s office and commercial kitchen and is “reviewing his options,” Haney said.
Bartolotta Restaurant Group executives could not be reached for comment.
