Milwaukee-based development group Black Cap Halcyon is moving forward with a long-discussed project to develop approximately 40 acres of underutilized land along Lake Michigan in Port Washington.
Black Cap Halcyon Holdings LLC purchased 36 acres of vacant land on Highway C from the city of Port Washington last week for $2.3 million, according to state records.
In March 2017, the firm was part of a development team selected by the city to develop a vacant parcel owned by the city south of the We Energies plant at 700 Sunset Road. Kubala Washatko Architects, Inc. is the design firm for the project and Altius Building Company is the construction manager.
Robert Harris, Port Washington’s director of planning and development, said the group received final plat approval for the project, called Prairies Edge, in June.
George Katsekes, a partner at Black Cap Halcyon, construction will begin this week on phase one of the $54 million project.
Phase one includes 156 apartments and two of the retail buildings. The project calls for a total of 21,000 square feet of commercial space and 10,000 square feet of public space.
Phase two will be 40 town homes and 16 single-family cottage homes. Phase three will include eight more town homes, the public space and club house, Katsekes said.
The development will connect to downtown Port Washington to the north and extend south to the newly proposed Cedar Vineyards housing development.
The city purchased the property more than a decade ago when We Energies renovated its power plant.
The land has 2,000 feet of lake frontage and is located on a bluff that rises 90 feet above the water. As an option, the adjacent 11.32 acres of land to the north that is owned by We Energies is also available.