Property located in historic downtown Milwaukee neighborhood dubbed “The Brewery”
MILWAUKEE, W.I. – (June 15, 2017) – Contributing to the redevelopment of the former Pabst brewery, a 21-acre site now dubbed “The Brewery,” The Davis Companies (TDC) and Milhaus Development, LLC, today announced that they have broken ground on Vim + Vigor, a new multifamily development at 926 W. Juneau Avenue and 1003 W. Winnebago Street in Milwaukee, W.I. The two-building, 199,475-square-foot property will offer 274 residences, including a mix of studios, one, two, and three-bedroom apartments, modern amenities such as a state-of-the-art fitness center, and 7,000-square-feet of ground-floor retail.
The residential property is proximate to I-43 and W Fond Du Lac Ave, walking distance to the area’s growing retail and business base, and close to existing educational and healthcare institutions and the Milwaukee River. Nearby attractions include the new Historic Pabst Brewery, the Brewhouse Inn & Suites and numerous restaurants, as well as Marquette University, the BMO Harris Bradley Center, UW-Milwaukee Panther Arena, Aurora Sinai Medical Center and the Wisconsin Entertainment and Sports Center, a mixed-use sports and entertainment venue currently under construction in downtown Milwaukee.
Having acquired and developed more than 7,000 multifamily units throughout the Eastern
U.S. during its 41-year history, TDC is growing its multifamily portfolio to provide additional housing in neighborhoods with exciting potential such as The Brewery. TDC currently owns and manages four self-storage facilities in Milwaukee. While this is the second project for Milhaus in Milwaukee, this development represents TDC’s first multifamily project in the area.
“There’s an exciting revitalization going on in Milwaukee. The area’s substantial growth is fueled by numerous businesses relocating downtown, and a heightened interest from residents and graduates looking to work and live in the area,” said Jerry Murphy, Vice President of Investments at The Davis Companies. “As companies and professionals gravitate to the city’s core, there’s increased demand for additional residences. We’re thrilled to have a great local partner in Milhaus, and are proud to join them in adding to Milwaukee’s renaissance.”
“We look forward to contributing to The Brewery’s redevelopment in a way that respects its historic significance, while providing a contemporary value-add,” said Jason Sturman, Chief Investment Officer for Milhaus. “The Davis Companies is an excellent partner, and we’re honored to work with them on their first residential development in the area as we continue to grow our multifamily portfolio in the area.”
The development will deliver in two phases. Construction is underway on the first phase, which is slated for completion in Q3 of 2018. The second phase is scheduled for delivery in Q2 of 2019. Move-ins will also be phased.
About The Davis Companies
Committed to excellence in both investment performance and operations, The Davis Companies, headquartered in Boston, is an integrated real estate investment, development and management firm headquartered in Boston that has invested more than $4 billion in gross asset value through real estate equity, debt, and fixed-income securities. A unique combination of capital markets, development and management expertise allows The Davis Companies to nimbly tackle complex and contrarian opportunities. Directly, and with its valued partners, The Davis Companies currently owns a real estate portfolio of approximately 12 million square feet across the Eastern United States.
Milhaus is a team of inspired and industrious individuals, headquartered in Indianapolis, operating throughout the Midwest, Oklahoma, Southwest Florida, and the Carolinas market. They deliver solutions for neighborhoods that positively impact urban environments by working with cities to provide unparalleled expertise in real estate investments, development, construction and property management. Milhaus has built a reputation for implementing complex projects in urban infill and mixed-use environments that are catalyst for neighborhood redevelopment. Ultimately, they develop high-quality projects that are financially responsible, withstand the passage of time, improve peoples’ lives and transform communities. For more information, visit www.milhaus.com.