By: Tom Daykin, Milwaukee Journal Sentinel July 27, 2016
Another project that’s among a series of new commercial developments along S. 2nd St., in Milwaukee’s Walker’s Point neighborhood, is close to completion.
Developer David Winograd is converting three adjacent buildings, at the northeast corner of S. 2nd St. and W. Pittsburgh Ave., into 12,000 square feet of restaurant and store space, and 10 second-floor apartments.
Those renovations started last fall and are to be completed by Sept. 1, Winograd said. People began moving into the first batch of apartments in July, with more apartments ready to open in August, he said.
The buildings being remodeled once housed Prime Leather Finishes Co., which shifted production to its Pewaukee facility in 2011, and Lucky Joe’s Tiki Room, a tavern that closed in October.
The apartments are mostly one- and two-bedroom units, with monthly rents starting at $1,450, Winograd said.
The commercial space is divided into five storefronts. Winograd said the retail space is drawing a lot of interested prospects, but he said he isn’t ready yet to announce any signed leases.
The $3 million development is attractive in part because the property has 33 parking spaces on a neighboring lot east of the buildings, Winograd said.
Also, he owns an additional parking lot about one block south of the development, on the east side of S. 2nd St., north of W. Oregon St.
It also helps that the project is in a part of Walker’s Point that continues to see strong demand for new apartments and commercial space.
Just south of Winograd’s development, at 133 W. Pittsburgh Ave., are three adjacent buildings that will be converted into apartments, offices and street-level retail by their new owner.
An affiliate of Bloomington, Ind.-based Cedarview Management bought the properties in November for $2.2 million and in June received a city building permit to begin renovations.
The three buildings, constructed in the 1890s, include a five-story, 58,800-square-foot building; a four-story, 20,936-square-foot building; and a two-story, 5,844-square-foot building. A Cedarview executive couldn’t be reached for more information about the firm’s plans for the property.
Meanwhile, an affiliate of Pittsburgh-based Linden Street Partners LLC this month bought a vacant lot, at 324 S. 2nd St., east of S. 2nd St. and north of W. Florida St., for $475,000, according to state real estate records.
Linden Street has preliminary plans to develop a five-story building with 68 apartments on the half-acre parcel, said owner Scott Richardson. The building would have an enclosed parking structure and around 1,500 square feet of retail space on its first floor.
The development firm hopes to begin construction in early 2017 and complete the building about a year later, Richardson said. He said the site’s close proximity to downtown employers, and nearby restaurants and bars, help make it a good location for housing.
‘I love the walkability of the Walker’s Point neighborhood,’ Richardson said.
Other nearby projects include the 2013 and 2014 openings of new stores for Indulgence Chocolatiers, 211 S. 2nd St., and Purple Door Ice Cream, 205 S. 2nd St.
Meanwhile, Winograd’s development hasn’t been without its challenges. His buildings date to 1900, according to city assessment records.
‘It was a lot of work because the walls just kept crumbling,’ Winograd said, with a laugh.
Winograd’s other Walker’s Point projects include plans for a 12-story, 164-unit apartment building at 234 S. Water St., and the South Water Works mixed-use development, south of E. Pittsburgh Ave., between S. Water and S. Barclay streets.
Original article can be located here.