Linden Street Partners, which has offices in Pittsburgh and Santa Ana, California, will break ground on a 70-unit apartment development in August on a vacant lot in Milwaukee’s Walker’s Point neighborhood.
The $12 million project at the northeast corner of Florida Street and South 2nd Street, will include a 1,200-square-foot retail space on the ground floor, which will likely be filled with a coffee shop or other local vendor, said Scott Richardson, managing partner for Linden Street Partners.
The first floor will also include a lobby and parking.
The one and two-bedroom apartments will be located on the second through fifth floors. Apartments will range from 600 to 1,000 square feet. Rents will range from about $1,250 to $2,000 per month, with the average rent about $1,500, Richardson said.
Brookfield-based Altius Building Company is the contractor and Milwaukee-based Rinka Chung is the architect for the project. Construction is expected to be complete in about a year.
“We love the neighborhood,” Richardson said. “Especially the proximity to downtown and the walkability of this site.”
Over the last few years, there have been a surge of apartment developments in Walker’s Point as new restaurants, bars and retail establishments have opened in the neighborhood.
This is Linden Street Partners first project in the Milwaukee area, but Richardson said his firm is already looking at another site in Walker’s Point for another apartment development.
“We hope that this is the first of a few projects for us in Milwaukee,” he said. “We like the area and we like the city of Milwaukee. If things go smoothly, we’ll be doing another project in Walker’s Point.”
