Last updated on May 15th, 2019 at 04:48 pm
Milwaukee developer Joshua Jeffers has bought two buildings on the corner of South Sixth Street and West National Avenue in the city’s Walker’s Point neighborhood and has redevelopment plans for the site.
An affiliate of J. Jeffers & Co. purchased both the three-story, nearly 6,400-square-foot building at 600-608 W. National Ave. and the two-story, roughly 14,400-square-foot building at 610-616 W. National Ave. for $750,000, according to state records.
The company announced the transaction on Monday in a LinkedIn post, noting one of the buildings would be leased back to the property’s former owner and long-time anchor, The Council for the Spanish Speaking. The company also teased at a later unveiling of redevelopment plans for the site.
“Exciting new project coming up on Milwaukee’s near south side!” Jeffers said on his LinkedIn page. He could not be reached for comment. Toni Rivera-Joachin, president and chief executive officer of The Council for the Spanish Speaking, also could not be reached.
The National Avenue property falls in an Opportunity Zone. The Opportunity Zone program was established as part of the 2017 federal Tax Cuts and Jobs Act, and aims to spur private investment in distressed areas throughout the U.S. Jeffers’ LinkedIn post alludes to using this program as part of redevelopment efforts.
Other projects Jeffers has in the works include the Broadway Connection, an 11-story office and retail building at the corner of North Broadway and East Clybourn Street. In December, law firm Husch Blackwell announced it would be moving its Milwaukee office to the new building and occupy the top three floors. Modified development plans, which increases the size of the building from nine to 11 floors, were approved on Monday by the Milwaukee Historic Preservation Commission. Jeffers told the commission he expects to break ground on that project in April.
Jeffers also recently renovated the Mitchell Building and redeveloped the Mackie Building, both of which are on the same downtown Milwaukee block as the planned Broadway Connection building. The Mackie Building houses the Grain Exchange event venue and the new Mackie Flats apartments.