The developer that has for years looked to redevelop the former Perlick industrial complex on Milwaukee's northwest side is now planning to create senior apartments there. Cornelius McClendon of Milwaukee-based McClendon Capital Group LLC has applied to change the zoning of the property located at 3040-3112 W. Meinecke Ave. The rezoning would allow the four-building complex to be turned into senior housing. McClendon said three of the buildings would be turned into housing. The fourth building on the eastern side of the complex would provide indoor parking. His firm hasn't yet determined the total number of units. Previous plans called for 72 units, 58 of which would have been affordable. It may also include a small café, serving residents and workers of nearby businesses. The project has an estimated cost of around $25 million. The oldest of the four buildings at the complex was constructed in 1902. The others were built in 1945, according to city records. They are collectively assessed at $373,100. McClendon said he's been looking at the site since 2017. He said he likes the building's historic features and its cul de sac entrance. "The history behind it really attracted me to it," he said. Previous redevelopment plans involved affordable housing, though not specifically for seniors. McClendon said there's a need for more affordable housing for seniors in the city. "That was always my goal was to do senior housing, and this project allows me to do that," he said. McClendon applied in late 2018 for low-income housing tax credits through the Wisconsin Housing and Economic Development Authority. WHEDA did not award it tax credits, and the project has not advanced in the time since. The proposed rezoning would set up the project for another go at the housing tax credits, McClendon said. He added he'll also pursue historic tax credits. The complex lies within Milwaukee's 30th Street Industrial Corridor, next to the Master Lock complex. It formerly housed Perlick Corp. A bit farther north is the in-progress Community Within the Corridor project. The $66 million project will create 197 units of affordable housing, a community service facility and indoor recreational space at a former Briggs & Stratton industrial complex. McClendon said he sees synergy between his project and Community Within the Corridor. The two won't directly compete, he said, since his would provide senior housing.
Holiday flash sale! Subscribe to BizTimes and save nearly 40%!