As Neutral, a Madison-based development firm, ramps up its presence in downtown Milwaukee with two major projects, the company has officially begun leasing at its debut apartment building in downtown Madison.
Founded in 2020, Neutral has made headlines in recent years for its ambitious plans in Milwaukee, including The Edison, a 31-story, 378-unit luxury apartment tower currently under construction. One block over, the firm is also proposing a transformative redevelopment of the Marcus Performing Arts Center parking structure. That project could deliver hundreds of hotel rooms, thousands of square feet of retail and office space and hundreds of multifamily housing units across three towers if completed.
That proposal, however, has not yet secured a one-year exclusive negotiation agreement with the city. Milwaukee Alderman Bob Bauman has expressed hesitation, citing concerns about Neutral’s relatively short track record.
Still, Neutral’s first project in Madison, Bakers Place, a 206-unit, mass timber apartment building, crossed a milestone as it officially began leasing this month. Located near the Wisconsin State Capitol, the property emphasizes wellness and sustainability, a press release says.
“Neutral is thrilled to introduce Bakers Place to downtown Madison,” said Neutral CEO Nate Helbach. “This flagship project embodies our vision for sustainable and healthy living.”
Bakers Place includes studio to three-bedroom apartments with rents ranging from $1,400 to $7,300 per month.
The building amenities include a fitness center with custom PKFit equipment, coworking spaces, a tenant library, a contrast therapy room, a health studio, terraces with lake views and communal gardens, EV charging stations and a pet wash. The building is also pursuing LEED Silver certification.
On the ground floor, California-based café chain Copa Vida will open its first location outside California.
More coverage of Neutral:
- Sustainability, democratized investment: How Neutral financed The Edison
- Ambitious vision or unrealistic plan? Madison developer’s eye-popping pitch for downtown Milwaukee
- The Interview: Daniel Glaessl
