Milwaukee-based Craft Development LLC announced today that it is planning a mixed-use redevelopment project for the former Federal Manufacturing Co. site at South 2nd Street and Walker Street in Milwaukee’s Walker’s Point neighborhood.
Last year Federal Manufacturing moved out of several buildings in Walker’s Point to a new 78,000-square-foot industrial building in Pewaukee.
The redevelopment project by Craft Development will consist of three properties with two existing buildings. Preliminary plans for the project, called Federal Commons, include a new 36-unit market-rate apartment building at 822 S. 2nd St., a 6,000-square-foot event space in an existing building at 838 S. 2nd St. and a 10,500-square-foot commercial office space redevelopment of an existing building with a surface parking lot at 829 S. 1st St.
Craft Development is collaborating on the project with the land owner, Federal Real Estate Holdings LLC. Craft also did the redevelopment project to convert the former Federal Manufacturing Co. building at 201 W. Walker St. into the new headquarters for Saz’s Hospitality Group.
“(Federal was) interested in staying involved in the neighborhood where they had spent so many successful years doing business, and I wanted to build on the momentum created by Saz’s new facility across the street,” said Dan Katt, owner of Craft Development. “We share a common vision for the project, and are excited to be moving forward.”
Katt said a couple of potential tenants, whom he declined to name, have expressed interest in the office space in the project.
The project is expected to be complete in 2016, with the event space and commercial office space redevelopment completed in the spring and the apartments opening in the fall.