Apartment Building Plans Proposed for Old Firehouse Lot Suspended

Apartments that were once planned for the former Wauwatosa Fire Station No. 1 site on Underwood Avenue have been suspended by the developer, reported the Business Journal. 

The proposal of a four story and 52-feet high apartment building adjacent to residential properties brought much outcry from residents who accused the developers, Sean Phelan of Phelan Development and Blair Williams of WiRED Properties, of trying to squeeze every dime of profit out of the project without regard to the character of the surroundings.

The developer and the city were negotiating a potential tax incremental financing for the $7.5 million project but the city wasn't fond a TIF financing. 

The 36-apartment building would have been the tallest building in the village, rising over Underwood Avenue and backing up to five homes on Church Street.

The developers who jointly proposed it, Sean Phelan of Phelan Development and Blair Williams of WiRED Properties, had said that the project needed to reach that scale to be economically viable.

The city's principal planner said Phelan  told the Wauwatosa Community Development Authority on Friday he was suspending the project, reported the Business Journal.

Related Stories:

• Salon Owner Holds Key to Developing Old Firehouse Lot

Follow us on Twitter | Like us on Facebook | Sign up for our daily newsletter