Members of the Wauwatosa Community Development Authority favor a mixed-use development proposed by Phelan Development and WiRED Properties for a vacant former fire station site at 1463 Underwood Ave. in the downtown village area.
The city issued an RFP seeking development proposals for the site.
Phelan and WiRED have proposed a four-story building with 36 apartments, underground parking, 6,628 square feet of retail space and 10,600 square feet of salon space for Cody & Co. The total cost for the project, called Ardor in Tosa Village, is estimated at $8.2 million.
The project is the preferred option for the CDA, which is still doing due diligence to examine the details, said assistant city planner Jen Ferguson.
The other two projects pitched for the site are proposed by Metropolitan Development and Wangard Partners.
Metropolitan Development has proposed a four-story building with 81 apartments, 8,500 square feet of retail space and parking. The total cost is estimated at $11.64 million.
Wangard has proposed a four-story building with 65 apartments, 4,691 square feet of retail space and parking. The total cost is estimated at $10.1 million.
