Bucks announce 90-unit apartment complex in arena district
Milwaukee’s Royal Capital chosen after nearly yearlong process

By: DAN MUCKELBAUER - Freeman Staff

Feb. 24, 2017

A rendering of the 90-unit apartment complex proposed for Milwaukee’s new arena district.
Submitted rendering

MILWAUKEE — Milwaukee- based Royal Capital Group LLC will develop a 90-unit apartment complex in the new arena district, the Milwaukee Bucks announced Friday.

The $17.5 million, 12month construction project, expected to begin in the fall, will be on the eastern side of North Sixth Street between West Juneau and West McKinley avenues.

It is part of the $1 billion approximately 30-acre residential and commercial development Wisconsin Entertainment & Sports Center district anchored by the $524 million arena scheduled to open in the fall of 2018.

“As fellow Milwaukeeans, Royal Capital is exceptionally excited to be a part of this generational development — not just as a transaction, but as a transformational opportunity for our hometown community,” Kevin Newell, president of Royal Capital LLC, said in a statement.

Bucks President Peter Feigin said, “This project has always been about more than just basketball; our ownership is committed to contributing to the revitalization of the city and spurring additional private investment in the future of Milwaukee.”

The Bucks have previously announced an entertainment block and plaza with an outdoor amphitheater seating at least 500 people. Restaurants and bars are expected to be east of the arena on North Fourth Street. Large-scale commercial development is planned on the east end of the district between North Fifth and North Old World Third streets and West Juneau and West McKinley avenues. A pharmacy is also slated for the district.

The Bucks could accept major retailers as loss leaders to get the right development mix, Feigin reportedly told area real estate executives this week.

The proposed residential development immediately north of the new 714,000square-foot arena will include micro, one-bedroom and two-bedroom layouts, including some two-story lofts. Plans include a rooftop terrace and club room, a fitness center and multiple indoor-outdoor lounges.

Along North Sixth Street there will be a neighborhood café, “flexible event space,” and a sports lounge for residents and the public.

The Bucks began soliciting proposals from developers in March when the construction manager and design team for the parking structure were named. Royal Capital was selected from a broad group of both local and national developers interested in contributing to the project, the Bucks said.

In addition to the complex, Royal Capital. 710 N. Plankinton Ave., is working on a $32 million development featuring 181 residential units and a restaurant to Milwaukee’s Brewer’s Hill neighborhood. It is also a partner on a mixed-used development to replace the Mill Road library branch with a 17,000-square-foot library and 55 mixed-income apartment units.

Email: dmuck@conleynet.com