MILWAUKEE BUSINESS JOURNAL
The conversion of office properties into apartments is happening in the suburbs as well as downtowns, with Brown Deer approving a financing agreement for F Street to demolish unused buildings to clear land for 148 housing units.
That project planned for 4300 W. Brown Deer Road would level two office buildings, including one formerly used by Ascension, to clear 7.8 acres for the new apartments to be built. Clearing those buildings and adding the new apartments is expected to generate at least $23 million in new property value.
F Street intends to demolish the office buildings by the end of this year, according to an emailed statement Tuesday.
“We’re excited to partner once again with the village of Brown Deer on another multifamily development,” F Street said. “The development will include some commercial use space, so we look forward to announcing tenancy for that space in the future as we meet with potential suitors.”