MILWAUKEE — A proposed mass timber apartment building has grown to 32 floors, more than double the original plan of 15, according to our partners at the Milwaukee Business Journal.
Madison developer The Neutral Project is planning to build a new mass timber building along the Milwaukee River, a plan that was first proposed in 2021. It would be the second mass timber apartment structure in the city, alongside The Ascent which welcomed its first guests last summer.
Initial renderings and concepts for the property at North Edison and East State Streets called for 15 floors and 211 apartments. Now, the BizJournal is reporting the latest renderings feature 32 floors with 344 apartments.
The additional floors and units are an effort to make the project buildable under today's high-interest rates and construction costs. Managing director Nate Helbach told the BizJournal that the project team has been testing different designs, searching for a concept where construction costs could be justified by proposed apartment revenue.
“Over four months of iterations, we finally got to a sweet spot that made the project pencil,” Helbach said.
Should the new 362-feet-tall concept with 32 floors be approved, the new building would be the tallest mass timber structure in North America, surpassing The Ascent which stands at 284 feet tall.
The Neutral Project still needs approval from the city before it can break ground next year. However, the site of the building has already been cleared after the former Rojahn & Malaney Co. flower wholesale building was demolished.
The BizJournal said the new building would have a concrete structure for its base up to the seventh floor. The first floor reportedly would have 7,100 square feet of retail space, and there would be 306 parking stalls above.
Apartments would begin on the eighth floor, and the top two floors would be home to 18 penthouses.
The seventh floor would house amenities for residents, including an indoor-outdoor pool, hot tubs, a sauna, and other spa-like amenities. Helbach told the BizJournal the floor would also feature a coworking space, library, demo kitchen, movie room, fitness center, outdoor gardens, and outdoor seating with a dog run area.
More amenities would be available on the top floor of the building, including a sports bar and outdoor deck.
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