Plans to replace a dilapidated building along the Milwaukee River in downtown Milwaukee with an 18-story apartment tower have been dropped.
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Rendering of the now scrapped plans for 107-115 E. Wells St. in downtown Milwaukee.[/caption]
Jason Korb, the architect who worked on the project since September 2015, confirmed that he has not talked to the developer, Greenfield-based The Ladner Group LLC, since May, and the project simply became unfeasible.
“There were multiple reasons that no one explained to me,” Korb said. “The thing went dark and we all moved on with our lives.”
Jason Ladner, with The Ladner Group, could not be reached for comment.
In January, The Ladner Group LLC, announced it would purchase 107-115 E. Wells St.
in spring and build the tower, which would include 57 high-end apartments and a ground floor restaurant.
The purchase never went through and the property is still owned by FAB LLC, which lists Gary Taxman, a real estate investor, as the registered agent.
Korb said the site has some flood plain issues that would have taken awhile to resolve and would have required the developer to work with the Federal Emergency Management Agency, but nothing that could not have been worked through.
The $17 million project was approved by the city plan commission in May.
Korb’s designs for the property are still viable, if another developer wants to move forward, he said.
“It happens to be in the Riverwalk overlay district so it would need approval, but if someone else felt so inclined…” Korb said. “This is absolutely disappointing. I thought this could be a great project for the city.”