Three Leaf Partners is ready to break ground on its latest multifamily project, to be located in the Wauwatosa village area.
The Milwaukee-based development firm announced Friday that it has closed on the purchase of the property at 7474 Harwood Ave. and also closed on its loan for the $47 million project.
Three Leaf is on track to begin demolition yet this year of the former St. Bernard Congregation building on the site and begin construction early next year on a 153-unit apartment complex.
Proposed in April, the project will be built on a 2.8-acre site near the prominent corner of Wauwatosa and Hardwood Avenues. The site had been the longtime home of St. Bernard Congregation, which is consolidating with its sister parish Christ King, and Wauwatosa Catholic School, which already closed at the end of the 2022-23 school year.
The three-story building will include mostly one-bedroom units, with some studios and two-bedroom units as well. The building will include one level of underground parking, plus surface parking spaces, as well as amenities including a fitness center, community room and a courtyard with things like a basketball court and grilling area.
“We’re honored to partner with St. Bernard's leadership in a way that enables their mission to thrive for generations to come,” Three Leaf Partners chief operating officer
Derek Taylor said. “This project showcases how development and community partnership can create long-lasting positive impact.”
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The proposal went before Wauwatosa's Design Review Board multiple times and faced opposition from several neighbors before securing approval in July. The project also includes a courtyard that connects to a public pocket park at the corner of Wauwatosa and Hardwood Avenues.
“This project is about more than just creating housing — it’s about creating a legacy,” said
John Ford, chief development officer of Three Leaf Partners. “By working closely with the leadership of St. Bernard, we’ve designed a project that not only honors the history of their congregation and this site, but also sustains the church’s mission in a meaningful way. This is the essence of 'Impact Through Real Estate,'" which is Three Leaf's motto.
The project is coming forward at the same time as a
proposal for 157 units about a block away at 1330 Wauwatosa Ave. That project, proposed by Milwaukee-based
Mandel Group, received approval from the Design Review Board earlier this month but still needs to have its tax incremental financing agreement approved before construction can begin.
