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.
