Milwaukee-based multi-family residential development firm Mandel Group Inc. announced today that it has completed the lease-up of its latest apartment developments, the second phase of the North End development near downtown Milwaukee and the LightHorse 4041 development in Shorewood.
The second phase of the North End, located along the east side of the Milwaukee River south of Pleasant Street, consists of 155 apartments in two buildings. The two buildings, called Portrait and Silhouette, have “achieved sustained occupancy in the high 90th percentile for the past quarter,” Mandel Group said in a news release.
The LightHorse 4041 project on Oakland Avenue in Shorewood was 100 percent leased two months after completion, the firm says.
“These strong leasing results confirm our expectations regarding market preferences,” said Mandel Group chief operating officer Robert Monnat. “Our residents are very discriminating and appreciate the value of location, construction quality and the level of services they receive. Properly researched and delivered communities have been well received by our clientele, who clearly have a broad range of options available to them.”
Mandel Group is actively building and planning new apartment developments through the metro Milwaukee area, including a planned third and fourth phase for the North End project.
“With recovery of the single family home market, you’re going to see a fair number of baby boomers selling their homes and opting for a luxury apartment or perhaps a condominium,” Monnat said. “We fully expected to see that trend at LightHorse in Shorewood and at our other suburban developments in Whitefish Bay and Brookfield, and we also expect to see baby boomers adding to the demand for the preferred sites we have in the downtown environs on the lake, the river and in the Third Ward.”
