Waukesha property suits luxury apartment developer’s vision

By Katherine Michalets

May 16, 2019

WAUKESHA — When the vacant land between St. Paul Avenue and the Fox River in downtown Waukesha became available for sale, developer Mike Campbell saw its potential as a site for luxury apartments.

“It’s not a good site, it’s a great site,” Campbell said. “You are right on the river. You have already done a great job with the riverwalk.”

Campbell Capital Group, LLC out of Atlanta submitted its request this week to the city to construct a four- to five-story building that would contain 186 luxury apartment units on 4.21 acres of vacant land. Discussion of the request for the preliminary site and architectural review of the apartment building could be held during the June 12 Plan Commission meeting. The project would need approval by the Plan Commission and Common Council.

Originally from Wisconsin, Campbell said it has been enjoyable to develop residential properties in the state, including Brookfield Reserve in Bishop’s Woods and The Mayfair Reserve.

The likely clients for The Reserve at Waukesha would be about 25 to 55 years old, Campbell said, who haven’t yet wanted to purchase a home or have sold a home and want to rent again.

The same will be the case for The Reserve at Waukesha, Campbell said, which will have a two-story clubhouse with a place to get coffee and a room with computers, as well as a resort-style pool in a courtyard. About 78% of the units would be one-bedroom and 22% would be two-bedroom. The average rent is expected to be about $1,500 per month.

Other benefits for the downtown site in Waukesha are the walkability and visibility of the location, as well as its closeness to bars and restaurants, he said.

Ideally, he’d like to start construction this year, but thinks the first quarter of 2020 is more likely.

“Waukesha County and the city of Waukesha are just getting better and better,' Campbell said.

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