Wholesale florist Rojahn & Malaney Co. sold its warehouse in downtown Milwaukee to a developer that plans to build a mass timber apartment tower at the site.
According to state records, Rojahn & Malaney sold the site at 1005 N. Edison St. and 100-110 E. State St. to an affiliate of Madison-based The Neutral Project for $4.12 million.
The developer is planning a $60 million project called The Edison at the 0.6-acre riverfront site. It includes a 15-story building with 194 residential units and 13,000 square feet of ground floor commercial space, according to a city report. It will also contain parking for 102 cars and 56 bikes.
The tower will use mass timber construction, and will incorporate green features including solar power and a green roof.
“The project aims to create a respectful addition to the cityline as well as a new destination point in downtown Milwaukee,” the project team states in application records.
Kurt Van Dyke of Milwaukee-based The Barry Co. was the listing broker of the Rojahn & Malaney property.
The site includes an 18,784-square-foot warehouse, built in 1911, and a parking lot. The warehouse and parking lot have a combined assessed value of nearly $1.7 million, according to city records.
Representatives of The Neutral Project did not immediately provide a comment on the deal.
