MILWAUKEE — The next phase in developing Downtown Milwaukee’s Deer District is upon us in the form of a 210-unit apartment complex at the intersection of W Juneau Ave & Vel R. Phillips Ave.
As reported by our partners at the Milwaukee Business Journal (MBJ), the $80 million development is a joint project between the Milwaukee Bucks and Milwaukee-based real estate developers, J. Jeffers & Co.
In addition to the 210 units and extensive parking options for tenants, the property is expected to feature various green spaces, including a rooftop terrace, and one dedicated commercial space positioned as a “unique activation,” which should be announced early in 2024.
MBJ’s Sean Ryan reports the development is expected to break ground in 2025. That will allow time for J. Jeffers & Co. to seek a U.S. Department of Housing and Urban Development public loan guarantee that would secure favorable interest rates and set them on a path for success in the current real estate landscape.
J. Jeffers & Co. collaborated with the Bucks in developing the Journal Commons apartments just a block away from Fiserv Forum and Deer District in 2020. That business relationship helped establish trust between all parties involved, paving the way for this project.
The Trade Hotel opened across the street from Deer District earlier this year, marking a significant step in the development of properties surrounding the area. The area is only expected to keep growing from here.
TOP HEADLINES FROM THE NEWSRADIO 620 WTMJ TEAM:
- It’s Winter Preparedness Week: How are your driving skills holding up?
- One person critically injured after a Milwaukee high-rise apartment fire
- “One death in custody is one too many:” Milwaukee Co. Sheriff reacts to calls for Jail audit
- WATCH: Breaking down the Mattioli verdict with retired MPD Lieutenant Dr. Ken Harris & John Mercure
- “I had to get used to hearing sirens:” Milwaukee nurse chronicles three-week journey into Israeli war zone