More development heading to East North Avenue

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Several major developments in recent years have increased the population and vibrancy of East North Avenue, a commercial corridor at the heart of Milwaukee's East Side neighborhood.

1150 North

Now, three more major residential projects are in the works for the East North Avenue area, which could further increase the population of the area and boost businesses in the neighborhood.

HD Development Group, led by Todd Davies, recently began site work for construction of a 122-unit apartment building at 1150 E. North Ave., which will be called 1150 North. Once the site work is complete there will be a brief pause before construction of the building begins, Davies said. Construction of the building will take about a year. He declined to comment on the financing status for the project. Most to all of the apartments will be rented at market rates, but details have yet to be determined, Davies said.

Town of Brookfield-based HSI Properties plans to build a 99-unit market rate apartment building, called The Standard @ East Library, at the site of the East Library at 1910 E. North Ave. The project will include a new 17,000-square-foot space for the library and 3,000 square feet of retail space. HSI is seeking a loan guarantee for the project from the U.S. Department of Housing and Urban Development's 221(d)(4) program. Construction could begin in early spring of 2013 and be complete in 12-15 months. The five-story building will replace the existing one-story library building.

Milwaukee-based Joseph Property Development LLC and Milwaukee-based Boulder Venture LLC are planning a redevelopment project at the former Prospect Mall site, located just off North Avenue, west of the Prospect Avenue and Ivanhoe Place intersection. The project will have 52 market rate apartments and 10,000 square feet of retail space. The existing building will be gutted to create the retail space and indoor parking space. Four levels of apartments will be built on top of the existing building. Boulder Venture will own the retail space and Joseph will own the apartments. Construction is expected to begin by next spring. It will take about one year to complete the project.

Joseph and Boulder Venture are "very close" to getting financing locked in for the project, said Robert Joseph, founder of Joseph Property Development.

The developers for these projects say their apartments will be leased by people, particularly young professionals, who want to live in the dense, pedestrian-friendly, active North Avenue corridor.

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More development heading to East North Avenue