OAK CREEK, Wis. — Construction on nearly 400 apartments could begin in 2024 at Drexel Town Square as part of a $100.2 million development, according to our partners at the Milwaukee Business Journal.
Oak Creek officials approved city financial support on Tuesday. Drexel Town Square is an 85-acre redevelopment that launched in 2013 near Howell and Drexel.
According to the BizJournal, Milwaukee-based Barrett Lo Visionary Development is building the two apartment buildings and has already built 408 apartments at Drexel Town Square. They are also constructing the 44-story Couture in downtown Milwaukee.
The new apartments would be in two buildings, BizJournal reports. One building would have 100 apartments standing six stories tall and the second would be a larger building with 299 apartments on more than 7 acres, standing four stories tall. Both would have swimming pools.
Oak Creek's Common Council approved a term sheet to provide up to $14.9 million in city financial help, according to the BizJournal. The already completed apartments also received city financial support.
One lot will be left in the overall Drexel Town Square project after the completion of the two apartments.
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