A vacant site near the former Bucyrus campus in South Milwaukee could soon be redeveloped as a $6.2 million apartment development with commercial space on the first floor.
Once occupied a gas station, the city had owned the 0.7-acre parcel at 2318 10th Ave., near the southwest corner of 10th and Marquette avenues, for several years before issuing a request for proposals (RFP) this fall for a mixed-use development.
After receiving two proposals, members of the city’s Plan Commission voted earlier this month to pursue a development agreement with Milwaukee-based AK Development. The other proposal the city had received – from a limited liability company led by Caledonia business Steven Hribar – called for a 45-unit apartment complex, and Patrick Brever, the city’s Assistant City Manager, and commissioners felt it didn’t meet the guidelines for the RFP.
Slated to be developed in partnership with Wisconsin Community Services, Inc. (WCS), Continuum Architect, Greenfire, JCP and CG Schmidt, the AK Development proposal calls for a four-story, 24,563-square-foot mixed-used development. The concrete and brick building would include 24 apartments, and a 2,750-square-foot commercial space on the first floor. The apartments would be comprised of eight studios, 12 one-bedroom, and four two-bedroom units. Rents would be between $650 for a studio to $1,500 for a two-bedroom unit.
The development firm is hoping to utilize a combination of $150,000 in city grants, $300,000 in Home Funds, $1.68 million in ARPA dollars, and $650,000 in tax increment to help finance the project.
AK Development is slated to return to the Plan Commission on Jan. 24 to discuss a proposed development agreement with the city. If commissioners like what they hear, they could move ahead with final agreement with them.
