Developers Proposes 3 Residential Buildings In Downtown Waukesha

WAUKESHA, WI—Developers are proposing residential buildings to align with a housing trend towards smaller households in downtown Waukesha.

General Capital and Joseph Property Development are under contract to purchase a portion of the Waukesha State Bank land and all of the Davies property along the north side of the Fox River.

"As a team already owning other properties in the City, we see the need for this type of development. The trend toward smaller households suggests to us renter demand from single residents, empty-nester couples, and single-parent households. Given the demand associated with downtown Waukesha’s expected population growth, more rental housing supply will be needed," city documents said.

The site consists of approximately 2.5 acres, is currently vacant, and significantly covered by parking lots.

The proposed project is to build three separate 3&4 and 4&5 story multifamily residential buildings totaling 192 units (with flexibility for an additional 20 units, i.e., up to 212 units).

Apartments sizes are currently proposed to be as follows:

• 1-bedrooms from 690-832 sf
• 2-bedrooms from 1,184-1,254 sf
• 2-bedroom townhouses from 1,008-1,578 sf.

Rents are estimated to be in the $1,200-$2,200/month range, city documents said

Each building will consist of upper story residential units above enclosed parking. There will be approximately 279 parking stalls, i.e., 243 enclosed plus 36 on the surface. There will be ample bicycle racks.

An additional 40 public parking spaces will be available. The project will be exclusively multifamily rental with the exception of approximately 2,000 sf of retail space along Barstow St.

The development will be built in two phases.

• Phase 1 will be the 66-unit eastern building (along the river) with a mix of 1 and 2-bedroom apartments and 2-bedroom townhouses.
• Phase 2 will be two 63-unit buildings along E. St. Paul with a mix of 1 and-2-bedroom apartments (i.e., no townhouses). Phase 1 will include the clubhouse and certain amenities for all three buildings, e.g., fitness gym, dog run, shared barbeques, and outdoor firepits.

The developers hope to close on the acquisition by January 2022, begin construction in 2022.

The Waukesha Plan Commission will consider the proposal during a meeting at 6:30 p.m. Wednesday.