MILWAUKEE BUSINESS NEWS

The City of West Bend is working with Milwaukee-based real estate company F Street to develop a new business park with potentially more than 1 million square feet of industrial space on the southeast side of the city.

Earlier this week, the city’s Plan Commission rezoned approximately 107 acres near the southwest corner of Rusco and River roads for manufacturing uses. Earlier this year, the city annexed the land from the Town of West Bend in order to connect it to city sewer and water systems, according to city documents.

The development will be known as Crossrail Commerce Center, according to F Street.

F Street is working with commercial real estate firm Colliers to market the property for sale or lease. with concept plans showing up to 10 built-to-suit lots available. A 10-acre lot is shown as having a pending sale.

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ONMILWAUKEE

This has been a bad year for churches designed by architects Brust & Brust.

Over the past few months, St. Bernard in Wauwatosa Village – built in 1955 – came down remarkably quickly, especially considering that former Brust employee and later buyer of the firm, Gary Zimmerman, says the firm’s churches were built like battleships.

Next to fall is Brust & Brust’s St. Aloysius, 1405 S. 92nd St., in West Allis, which was completed in 1957.

Both sites will be filled with apartments. While the ones in Tosa are already underway, clearance of the West Allis site has not yet begun.

The parish was merged, along with two others – Immaculate Heart of Mary and Mary Queen of Heaven – into Mother of Perpetual Help Congregation in 2018 and they all began worshipping at one building, 2322 S. 106th St., three years later.

(A second site at 1121 S. 116th St. includes a secondary worship site, Mary Queen of Saints Catholic Academy, parish offices and an outreach center.)

St. Aloysius hosted its final Mass in May 2021. The school had closed a year earlier.

At that time, Cardinal Capital Management purchased the site, but its plans for the site did not move quickly enough, and now F Street is in the process of buying the site via the City of West Allis.

“The idea is that all the existing buildings will come down and then working our way from the south to the north, we would probably do two-story garden-style apartments,” says F Street’s Director of Project Delivery E. J. Herr. “Those would be walkups with garages and things like that.”

One row of the houses would face 92nd Street and the other, at its back, would face 93rd.

“We’re working with Rinka Architects right now, developing the site plan,” Herr says. “We have preliminary diagrams of how things are to layout, but it’s still pretty early on. Right now we’re looking at about 52 units between those two (garden-style) buildings and another 100 units in the multi-family.”

It’s possible that some of the units could be used as student athlete housing for a nearby college, Herr says.

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MILWAUKEE BUSINESS JOURNAL

Milwaukee real estate firm F Street is taking over the planned redevelopment of a former church site and adjacent properties in West Allis under a plan to transform the site into housing.

The former St. Aloysius church at 1405 S. 92nd St. has been vacant for nearly four years after the parish merged with two other congregations. The city has sought to remove the blighted former church building and replace it with a development such as housing that could help grow the city’s tax base.

F Street, which will be conveyed equitable title to the property by the CDA, is planning a multifamily apartment development that’s expected to increase the site’s assessed value to at least $28.88 million, according to the CDA documents.

The conceptual plan from F Street calls for a $40 million project with 54 townhomes and a 100-unit apartment building with underground parking, Schloss said.

“We think F Street is a reliable, proven developer,” Schloss said.

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PRESS RELEASE

Milwaukee, WI (January 17, 2025) — Coast Apartments, a modern luxury community located in Lakeshore Commons, has been awarded Gold by the Associated Builders and Contractors (ABC) of Wisconsin in their prestigious Projects of Distinction competition. This award recognizes the exceptional quality and professionalism demonstrated in the construction of this unique development.

The Projects of Distinction competition celebrates the outstanding achievements of ABC of Wisconsin member companies and highlights the value of merit construction. Coast Apartments, with its striking design, high-quality finishes, and impressive amenities, exemplifies the principles of excellence and professionalism that ABC of Wisconsin champions.

Despite the challenges posed by coastal weather conditions, the project was completed ahead of schedule, demonstrating the team’s resilience and dedication to exceeding expectations.

About Coast Apartments:

Located in the Lakeshore Commons community, Coast Apartments offers a luxurious living experience with stunning lakefront views. The community features a range of modern amenities, including a spacious club room, a state-of-the-art fitness center, a resort-style pool, and expansive outdoor green spaces.

About ABC of Wisconsin:

ABC of Wisconsin is a leading construction trade association representing merit shop contractors throughout the state. The organization promotes the principles of free enterprise and works to ensure a fair and competitive environment for its members.

About F Street

F Street is a premier real estate investment and development firm headquartered in Milwaukee, Wisconsin. The company specializes in the acquisition and development of high-quality commercial and residential properties in Wisconsin and beyond. F Street is committed to creating dynamic and sustainable communities that enrich the lives of residents and contribute to the economic vitality of the regions it serves.

MILWAUKEE BUSINESS NEWS

With the City of Milwaukee taking control of former Northridge Mall property and demolishing the existing buildings, there is an opportunity for a new development to bring needed investment on the far northwest side of the city. Recently, three teams of developers shared their ideas for transforming the site before the audience at the development conference.

F Street, in partnership with AK Development and RINKA, was voted the top choice by those in attendance. Check out the video below and read more for access to the other presentations, as well as the slide decks used by each team.

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PRESS RELEASE

Milwaukee, WI (October 20, 2024) — F Street, is pleased to announce the successful completion of its capital raise for the Summit Apartments Phase 1 project. The $6,450,000 equity requirement has been fully funded, paving the way for the next phase of development.

F Street would like to extend its sincere gratitude to the project collaborators, including RINKA, Stevens Construction, Summit Credit Union, and the City of Oak Creek, for their invaluable contributions to the project’s success.

In conjunction with this announcement, F Street is excited to launch the capital raise for F Street OCLV MF 3, the second phase of the Summit Apartments development. This new investment opportunity offers investors the chance to participate in the construction of a $6,350,000 project that will begin in March 2025.

“We are thrilled to have achieved full funding for F Street OCLV MF 2 and to be launching the capital raise for F Street OCLV MF 3,” said Scott Lurie, Founder of F Street. “This continued success is a testament to the strength of our investment strategy and the confidence of our investors in our ability to deliver exceptional multifamily projects.”

F Street remains committed to its mission of creating vibrant, sustainable communities. The Summit Apartments project is a key component of the company’s ongoing development efforts in the Lakeshore Commons area of Oak Creek, WI.

For more information about F Street OCLV MF 3 and the investment opportunities available, please visit www.fstreet.com or contact the F Street team.

About F Street

F Street is a premier real estate investment and development firm headquartered in Milwaukee, Wisconsin. The company specializes in the acquisition and development of high-quality commercial and residential properties in Wisconsin and beyond. F Street is committed to creating dynamic and sustainable communities that enrich the lives of residents and contribute to the economic vitality of the regions it serves.

www.fstreet.com

 

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Media Contact:

Nick Jung
Director of Development
nick@fstreet.com
(612) 810-7023

PRESS RELEASE

Milwaukee, WI (October 11, 2024) — F Street, a leading real estate investment development firm, is pleased to announce the successful closing of its capital raise for F Street BD 2, LLC. The investment, totaling $11.15 million, will fund the construction of the new Village 43 Apartments project in Brown Deer, Wisconsin.

“We are thrilled to have reached this significant raise milestone for Village 43 Apartments and to be starting on another multifamily project in Brown Deer,” said Scott Lurie, Founder at F Street. “This successful capital raise is a testament to the strength of our project, the confidence of our investors, and our team’s ability to deliver exceptional real estate developments.”

The Village 43 Apartments project will bring 156 garden-style apartments to the Brown Deer community. The development will feature a large club room, fitness center, dog spa and run area, and active outdoor space.

The groundbreaking ceremony for Village 43 Apartments is scheduled for Thursday, October 17th.

F Street would like to express its gratitude to its project partners, including RINKA, Greenfire Management Services, First American Bank, and its investors for their support in making this project a reality.

About F Street

F Street is a premier real estate investment and development firm headquartered in Milwaukee, Wisconsin. The company specializes in the acquisition and development of high-quality commercial and residential properties in Wisconsin and beyond. F Street is committed to creating dynamic and sustainable communities that enrich the lives of residents and contribute to the economic vitality of the regions it serves.

www.fstreet.com

 

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Media Contact:

Nick Jung
Director of Development
nick@fstreet.com
(612) 810-7023