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
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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