Plans are in the works for another new food hall in downtown Milwaukee, featuring up to 18 vendors, dine-in seating, as well as carry-out and delivery service.
The project is being proposed at two separate vacant storefronts: 733 N. Milwaukee Street and 107 E. Wells Street, according to city records.
Currently under "presubmittal review," the plans include building out 20 individual restaurant and kitchen spaces, along with a shared seating area for 15 to 25 people. Once construction is complete, the food hall is expected to secure 14 to 18 tenants.
Behind the concept is Kyle McKechnie, a Chicago-based real estate developer and director of leasing and acquisitions at Park Ridge-based Newcastle Properties LLC. McKechnie was not immediately available for comment.
In the project proposal, he explains that two to four kitchens would likely be shared between neighboring vendors. Not all spaces would be filled and operational at once.
"While we could have 20 individual kitchen operators, we anticipate occupancy to be around 85% (~17 kitchens) which accounts for various stages of marketing & licensing, restaurateurs moving in/out, restaurants waiting for permit/health approval, general vacancy," according to the project proposal.
During daily operating hours (proposed as 10 a.m. to midnight), McKechnie expects approximately 20% of the kitchens will be active in the morning, 40% during the lunch shift and 40% during the dinner shift. Each restaurant would set their own operating hours.
Peak traffic time is anticipated on Friday and Saturday evenings. Based on the location and "proximity to public transit," an estimated 50% of consumers would arrive by foot or public transit, according to the proposal.
The 5,700-square-foot space on North Milwaukee Street is owned by Milwaukee-based
F Street Group. The building is under contract to be sold, said Mike Doney, F Street's vice president of marketing. He declined to provide further comment.
The two-story East Wells Street building is about 8,700 square feet and sits along the Milwaukee RiverWalk. Its owner is listed as CHS Annex LLC.
If the new food hall project comes to fruition, it would join a national trend that has gained local momentum in recent years, with Crossroads Collective on the East Side, Third Street Market Hall,
slated to open in the coming months downtown at The Avenue, and North Avenue Market, which has been
proposed for a former Associated Bank branch on West North Avenue.
