MILWAUKEE — A $140 million high-rise apartment building could be coming to the Historic Third Ward.
On Wednesday afternoon, Houston-based developer Hines Acquistion's senior managing director Thomas D'Arcy and Solomon Cordwell Buenz design architect Devon Patterson presented the project in front of the Historic Third Ward Architectural Review Board.
The board asked both men why they chose the parking lot across from the Milwaukee Public Market as the place to build the 295-luxury unit apartments.
D'Arcy said he believes it is the best location available in the city.
"We've looked at a number of sites across the city over the last three to four years. This is a site I can rally investors behind," D'Arcy said.
The $140-million project also includes a garage building with 400 spaces for residents and 40 spaces for public parking.
Milwaukee resident Melissa Mayer said the Third Ward is full of history, but wants this possible new addition to the skyline to have additional benefits to the area.
"If it improves the neighborhood, great. However, if it's just another high-rise to take money from people and give them cookie-cutter stuff, then I think that's a shortcut," Mayer said.
However, she would rather have something be here other than a parking lot.
"I'm not really a huge fan of parking lots, so if you're going to put people in a home, I guess that's a good thing," Mayer added.
The board also approved the height and mass concept 6 to 1, leaving room to make changes to the garage building.
Wednesday's preliminary review is the first step of many before construction can begin.