The Social restaurant and bar is in final negotiations with Milwaukee-based Endeavour Group to move to a new location in the Fifth Ward, said Tim Dixon, a partner with the development group.
The restaurant, currently located at 434 S. 2nd St., is negotiating a lease agreement at the 4,600-square-foot building at 114 E. Pittsburgh Ave. It is one of three buildings that were part of the Kramer International Inc. foundry site purchased by the Endeavour Group in January.
Dixon said the Endeavour Group plans to redevelop the entire site for restaurant, retail, office and living space by the end of 2005.
"[We bought the property] because it was for sale and because we think the Fifth Ward is the next hot spot," Dixon said. "Water Street is very busy, all of the retailers want to be there."
The $1.4 million renovation will include demolishing the one-story building attached to 114 E. Pittsburgh Ave., Dixon said. The first floor of the two-story building will be renovated for two restaurants and the second floor will be the new office for the Endeavour Group, which is currently above Roots restaurant and bar at 1818 N. Hubbard St., Milwaukee.
Dixon said Kelly Construction Co., Inc. will begin construction on the building in mid- to late August and the project is targeted for a December completion.
Paul Davis Restoration, Milwaukee, worked on 114 E. Pittsburgh after a fire broke out in March, said Dan Druml, president of Paul Davis. Druml said his company preformed asbestos abatement, installed a temporary roof and did post-fire cleanup and some demolition for Endeavour and hopes to continue with renovation work inside the building.
The Endeavour Group has plans to build a second building behind the 114 E. Pittsburgh Ave. building in place of the one-story building set to be demolished.
Dixon said the group is trying to keep the building no larger than 13,000 square feet and plans to house 8,000 square feet of retail space and a bank on the first floor and 24 apartments in the above three floors.
"They will be high-end apartments," Dixon said. "We have not decided on the rent but it will be between $1,200 and $1,600 per month. The building will be triangular with great views of the city."
Endeavour is currently undergoing a feasibility study for the second building and closing on the construction loans. Dixon would not disclose the possible tenants for the one remaining restaurant and two open retail spaces. He said Endeavour is in discussions with one bank and one national retailer.
The third building of the Endeavour Group purchase will be renovated into high-end, multi-level condominiums, according to Dixon.
"We are still in the preliminary plans and talking about work/live condos," Dixon said. "The street level could accommodate an artists gallery [and the like] below the living space."
Dixon has renovated old buildings in the downtown area for 15 years. Dealing with old warehouses, foundries and factories can be more expensive than building a new building, Dixon said, but worth it. He said he did not run into many problems with 114 E. Pittsburgh Ave. aside from foundry sand, the asbestos abatement and the fire.
July 23, 2004, Small Business Times, Milwaukee, WI
