The Plankinton Arcade building in downtown Milwaukee is getting another 72 apartment units.
Franklin-based Sunset Investors Group owns the third through fifth floors of the building at 161 W. Wisconsin Ave., where it has the 48-unit Plankinton Lofts.
Sunset is building another 72 units in space that's currently vacant, said Kendall Breunig, principal of Sunset. This includes the former downtown YMCA gym on the fourth floor, and a portion of the fifth floor that Sunset purchased from UW-Milwaukee in late 2019.
Breunig said the new apartments will be a mix of one- and two-bedroom units. They will average 880 square feet in size and rent for around $1,200 per month. The first new units will open in early 2022, with the remainder opening by next summer.
The Plankinton Arcade is home to another, separate, apartment community called Plankinton Clover. The developers of The Avenue project next door own the basement through second floors of the Plankinton Arcade building. This includes Plankinton Clover.
The Avenue is the mixed-use redevelopment of the former Shops of Grand Avenue at 275 W. Wisconsin Ave. The former mall now has offices, a soon to open food hall and the apartments.
Sunset also recently acquired the U.S. Citizenship and Immigration Services office building, at 310 E. Knapp St., for $4.75 million. And late last year, it sold six Milwaukee-area self-storage properties.