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| Wauwatosa, WI Mayor Kathleen Ehley |
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CHICAGO, IL – Timothy Blum, executive vice president
of Retail Development for HSA Commercial Real Estate, and Craig Raddatz,
partner at Fiduciary Real Estate
Development, jointly announce that the
firms have agreed in principal to develop up to 1,050 luxury residences over
seven to ten years on land next to The Mayfair Collection shopping center in
Wauwatosa, Wisconsin.
Fiduciary will
construct and manage the residential buildings, and the firm is scheduled to
break ground in spring 2015 on the first phase totaling approximately 250
apartment units and 50,000 square feet of ground level specialty retail space
with tenant occupancy projected for early 2016.
Phase two is scheduled to break ground in 2016 and will also
include 250 units and provide a level of amenities that have never been
provided in the Milwaukee market.
“It's exciting to see the vision Wauwatosa had for this area
15 years ago became a reality," said Wauwatosa Mayor Kathy Ehley.
"The continued growth around The Mayfair Collection is a good fit for our
city and adds many options for housing, transit, employment and entertainment.
"We are fortunate to have partners with the caliber of Fiduciary Real Estate and
HSA working with us in growing the vitality of Wauwatosa."
The proposed luxury apartment buildings, located just off of
Highway 45 at Burleigh Street, will be designed to promote density and
walkability within an integrated mixed-use environment.
“We have always shared the vision with the City of Wauwatosa
to transform this once lifeless industrial warehouse complex into a vibrant,
mixed-use district,” said Tim Blum. “Having best-in-class retailers like
Nordstrom Rack and Whole Foods Market at The Mayfair Collection has helped us
to advance that goal, but the luxury apartments by Fiduciary will make it a
reality.”
For a complete copy
of the company’s news release, please contact:
Mark Thomton, mthomton@taylorjohnson.com,
(312) 267-4523
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