Milwaukee-based
Irgens Partners LLC revealed its plans for the former United Healthcare property it owns in Wauwatosa's Milwaukee County Research Park.
Irgens Partners' plans include new apartments, retail and medical office space on the 13.9-acre site. The property is located at 10701 Research Drive.
"The United Healthcare office building was the inaugural project at the Milwaukee County Research Park in 1995," Tom Irgens, executive vice president of Irgens Partners, said in a statement. "Today, we consider it a catalyst for the 175-acre campus where our team has completed ten projects totaling more than 1.4 million square feet of space and added an estimated $248 million in real estate value."
Irgens Partners will renovate the existing five-story, 130,000-square-foot office building, and build a new two-story, 43,000-square-foot medical office building. The new building will be along Mayfair Road, at the western end of the site.
It will also build a roughly 8,000-square-foot retail building at the southeast corner of Research Drive and Mayfair Road. Irgens Partners said this building will serve food and offer services targeting the daytime workforce population of the office park.
The apartment building will contain 185 units. It will include studios, one-bedroom and two-bedroom units.
The Milwaukee Regional Innovation Center Inc. Board of Directors approved Irgens' development plans yesterday.
"Multi-use developments are the way of the future for research and technology parks," Guy Mascari, executive director and chief executive officer of the MRIC, said. "With this project, Milwaukee Regional Innovation Center will continue to stay at the forefront of the industry."
Irgens Partners
bought the site in August for $9.5 million.
At the time, the firm only revealed that it would renovate the existing building. But it became clear last month that Irgens was
planning something more substantial for the site when it moved to divide the property into smaller lots.
“The impactful redevelopment of this parcel is indicative of both the continued historic strength of the Milwaukee County Research Park and the immediate Wauwatosa area,” Rob Oldenburg, Irgens Partners' vice president of development, said. “We already have had great interest in our plans since acquiring the property and look forward to creating valuable real estate for future tenants, occupants and residents.”
