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| By Jeff Sherman OnMilwaukee.com Staff Writer E-mail author | Author bio More articles by Jeff Sherman |
| Published May 13, 2008 at 10:45 a.m. |
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Here are two updates on a pair of greater Downtown housing projects.
Renaissant Development Group continues to grow Park Lafayette on the corner of North Prospect Avenue and East Lafayette Place. The 20-story, two-tower condominium development on Milwaukee's East Side, is on schedule and is expected to reach its highest point around July 4. In keeping with industry tradition, project workers plan to hold a "topping off" ceremony, signing their names and placing a commemorative plaque on the top floor of each tower.
"This is a significant milestone for Park Lafayette, and we are excited to be approaching the final stages of this project," said Warren Barr, president of Chicago-based Renaissant Development. "The project is in great shape, and we are looking forward to the day when residents will be able to move into their new luxury condos. We hope they enjoy living in Park Lafayette as much as we have enjoyed building it."
Meanwhile, Mandel Group, Inc. confirmed yesterday via a news release that it was appointed developer in charge of completing the First Place condominium development.
First Place is a 152-unit development at the confluence of the Milwaukee and Menomonee rivers, immediately south of the Historic Third Ward. Construction of the building is nearly complete and occupancies began in November.
"We've spent considerable time examining the building, the floor plans, and the overall potential for the successful completion of this development," said Robert Monnat, Chief Operating Officer for Mandel Group. "Our approach in guiding all future work will specifically focus on creating value for the buyers of units at First Place."
First Place voluntarily filed for receivership in January to provide for the orderly completion of the property and proper payment of construction and development costs. The original developer was previously removed from the project.
Among Mandel's other developments in the Milwaukee area are University Club Tower, a 36-story, $100 million-plus high rise luxury condominium tower on Milwaukee's lakefront; Marine Terminal Lofts, a $40 million development comprising 83 condominiums and 45,000 sq. ft. of commercial space in Milwaukee's Historic Third Ward; and The North End, along the left bank of the Milwaukee River in the Park East corridor.
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3 comments about this article. Post a comment / write a review. |
Posted by brunocarlson on May 14, 2008 at 9:29 a.m. (report)
I have to agree with Diesel. They were very overpriced when I took an open house tour of the smaller units. Too small for the price. There are larger units for the same price or less with the feel and charm of an older building.
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Posted by diesel1976 on May 13, 2008 at 5:00 p.m. (report)
First Place is definitely over priced. I was there for an open house a few weeks ago. Paying over $200k for a condo that is less than 600 square feet in that area is ridiculous. They will have to lower the prices to get people to buy units in that complex. I think the area is being saturated with too many condos.
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Posted by Chrisna on May 13, 2008 at 11:44 a.m. (report)
Building looks kinda drab.
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