Chicago-based BK Development, LLC
plans to transform the historic Lindsay and Walsh warehouse buildings near Milwaukee's Walker's Point neighborhood into 182 apartments.
According to building permits filed with the city, 118 units would be added to the Lindsay Bros. Building (126 S. Second St.) and 64 units would be added to the adjacent F.A. Walsh and Co. Building at (160 S. 2nd St.) Both buildings were constructed in the 1890s and together amount to nearly 354,000 square feet of space.
This will be Ayman Khalil and Steve Blonsky's first project in Milwaukee. Their firm BK Development is an affiliate of Khalil's Icon Capital LLC and Blonsky's Vanguard Development LLC.
"We were looking for a different market to get involved with and every time we went up to Milwaukee we were so impressed with the building stock and the vibrancy of the city, we thought it was time to jump in the pool," said Khalil in an interview Tuesday with BizTimes Milwaukee.
They were drawn to the site specifically for its prime location near the Historic Third Ward, downtown, and a stop along The Hop streetcar route.
The project aims to restore the historic features of the buildings' exterior, such as the windows. Once complete, it
will have a mix of one-, two- and three-bedroom units; the Walsh building will feature amenities including a business center, fitness center, club room and rooftop deck. Mark Ernst and Eric Huberty of Milwaukee-based Engberg Anderson Architects
will serve as principal architects on the project.
Blonsky said 70% of the units are one-bedroom and "one-bedroom plus den."
"The depth of the floor plates and the size of the floor plates enable us to basically add an additional room, whether it be a home office, a den, an extra bedroom," he said. "We’re able to offer that at pretty much the same price as other one bedrooms are renting in the market."
BK Development will purchase the historic buildings and a neighboring surface parking lot from longtime owner Brian Jost, who has kept the property in "impeccable condition," said Khalil.
Khalil said the tentative plan is to close on the property in the second quarter and begin construction by early 2023, pending building permit approvals. The project won't need to be reviewed by the city as both buildings are already zoned for residential use.
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