Last updated on October 29th, 2020 at 11:06 am
The luxury apartment tower in Wauwatosa proposed by Mo’s Restaurants owner John “Johnny V” Vassallo would total 25 stories, stand 300 feet tall and contain approximately 354 units, according to plans filed with the city.
Vassallo in August revealed his plans for the $50 million project at the former Edwardo’s restaurant site, southwest of West Bluemound and North Mayfair roads. At the time he said the building would be somewhere between 19-23 stories tall. The latest plans to be presented to the city’s Plan Commission on Nov. 9 show the building would stand 25 stories.
Beyond the residential units, the building would also contain various residential amenities, indoor parking and 3,000 square feet of ground-floor retail space.
Proposed amenities include a gym, pool, grill area, cabanas, pet area, movie theater, individual workspace and conference rooms. The retail space would likely be a shop that sells baked goods, coffee and sandwiches, primarily catering to building residents.
The project applicant is Vassallo-led POG Kosmos Acquisitions LP. It is requesting a zoning map amendment for the project site and is also presenting preliminary development plans. Parking spaces would include 410 enclosed residential stalls and 15 surface stalls for the retail space.
A project consultant estimated the development will generate 1,710 new vehicle trips and 140 pass-by trips on a typical weekday.
Construction is estimated to finish in 2023.
The project is meant “to meet the growing demand for residences in Wauwatosa,” project architect Kahler Slater noted in a report to the city.
The Milwaukee-based architecture firm added: “The development will bring a new level of amenity-driven multifamily housing to the market, making Wauwatosa the first locality outside of downtown Milwaukee to offer this highly sought-after style of development.”
Vassallo did not immediately respond to a request for comment.
In August, he told BizTimes the timing was right on the project because interest rates are low, the lending market is favorable to multi-family projects, construction costs are “moderate” and rental rates are good.
Project investors include former Milwaukee Bucks and Marquette basketball player Steve Novak and other Milwaukee-area professionals, he said.
An affiliate of Milwaukee-based Mo’s Restaurants has been buying up properties at this block since 2016. The Edwardo’s Pizza building, at 10845 W. Bluemound Road, was the first. It was acquired in July 2016. The project team has looked to develop the entire block, said Vassallo, with potential uses including multi-family and commercial. However, it could take a decade for the group to acquire the remaining properties.