The latest apartment development on North Water Street will be completed in April, but with micro-sized units filling nearly the entire building, The Rhythm marches to its own beat.
The Rhythm, 1632 N. Water St., is Milwaukee developer Tim Gokhman’s second foray into designing luxury living in efficient spaces.
Gokhman, of New Land Enterprises and James Wiechmann, have created a seven-story development where the majority (110) of the 140 units are under 600 square feet. And while a living space has to be less than 400 square feet to officially be considered “micro,” the living space is small.
But Gokhman tells prospective residents not to judge square footage before seeing how well their belongings fit into the space.
“There are a lot of things you can do to make it really livable, but you have to design every square inch," Gokhman said. "It’s about smart design and smart living.”
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Like Gokhman’s other efficient concept apartment complex, Trio MKE, that opened last summer
in Walker’s Point, The Rhythm’s smallest studio apartments feature a dining room table that converts into a queen bed.
Rents start at $1,315 for a 405-square-foot studio up to $1,795 for a one bedroom. There are 50, 540-square-foot apartments, 60, 405- square-foot units and 30 one-bedroom units in the development.
The property also features heated wood floors throughout, which means no furnace, no water heater and no duct work.
Gokhman said he is not worried about an apartment development bubble with projects like this one, which offers residents something that is not otherwise available in the Milwaukee market.
“For housing there are three components, the product, the location and the price,” Gokhman said. “We design our buildings so that we are out performing the competition on at least two of them. If we can’t design a building that way then we don’t build them. We’ve got all three here.”
When The Rhythm opens in spring, it will be the latest of several new development along North Water Street. Gordo’s, a burger, taco and ice cream restaurant at 1652 N. Water St. is planned immediately north
The Rhythm is located across the street from a 30,000-square-foot Fresh Thyme Farmers Market that opened last year.
In addition, Wauwatosa-based real estate firm Wangard Partners Inc. is currently converting the former Laacke & Joys building, 1433 N. Water St. into office space. The building’s anchor tenant will be marketing firm Bader Rutter, which is relocating from Brookfield.
Hammes Company is building a 94,000-square-foot office building at the northeast corner of Knapp and Water streets and will move its headquarters there from Brookfield.