A Franklin property owner is proposing a retail and apartment development for a 4-acre site on Ryan Road.
Pewaukee-based design and construction contractor
Wellspring Construction Group is working with property owner
APUS Investment to construct 10,000 square feet of commercial space and 38 apartment units at 7220 W. Ryan Road.
The parcel is located next to the future home of Franklin-based
Carma Labs, the company that manufactures Carmex and other lip care products. Carma Labs is
planning to build a new 225,000-sqaure-foot headquarters facility at 9410 S. 76th St.
For the project at 7220 W. Ryan Road, nine one-bedroom apartments would be built atop the development's retail space, where developers are hoping to attract smaller tenants like insurance brokers or sub shops.
Behind the commercial building, four garden-style apartment buildings with two bedroom units and one car garages would be built with a total of 29 units. Developers are estimating rents for the units to be at about $1.80 per square foot.
At a Common Council meeting on Tuesday, Franklin officials questioned the demand for "luxury" apartments in that location, given the surrounding land uses. The council did not take official action at the meeting, but ultimately encouraged the developers to move forward with plans.
