By: Jackson Chen - Multi-Housing News
Wingspan Development Group and Batson-Cook Development Co. have started construction on its 300-unit community south of downtown Milwaukee.
The joint venture expects to deliver the first units of its community, Hub13, by the end of 2021 and to complete the project in fall 2022.
The garden-style community will have its units spread across nine two- and three-story buildings that offer studio, one-, two- and three-bedroom floorplans ranging in size from 582 to 1,380 square feet. Hub13’s amenities will include a fitness center, yoga studio, clubhouse, pool, dog park and coworking offices. Residents will also be able to access their units and the amenities through their mobile phones with the community’s technology and safety system.
Located on a 34-acre site at 7581 S. 13th St., Hub13 is a mile away from downtown Oak Creek and its retail and restaurants and approximately 9 miles away from downtown Milwaukee. The community also borders a 11.2-acre nature preserve with wetlands.
The community was designed by JLA Architects and is being built by Nicholas & Associates. Ayres Associates also serves as the project’s civil engineer while First Merchants Bank provided financing for the community. Wingspan previously worked with another joint venture partner to develop a 284-unit community in Plainfield, Ill.
Jason Macklin, director of development at Wingspan, said in prepared remarks that the southeast Wisconsin submarket that Hub13 is located in has experienced extraordinary job growth over the past few years.
According to a 2020 year end Colliers report, the greater Milwaukee multifamily market displayed strong resilience throughout the COVID-19 pandemic and is expected to see further expansion due to its strong market fundamentals.
The report showed that the Milwaukee market saw asking rents grow to $1,161 in the fourth quarter of 2020, a nearly 18.3 percent year-over-year increase. The market’s occupancy rate also saw a slight increase to 94.8 percent, while unit inventory is continuing to grow, hitting 85,739 units in the fourth quarter of 2020.
By: Kristin Hiller - Heartland Real Estate Business
OAK CREEK, WIS. — Wingspan Development Group and Batson-Cook Development Co. (BCDC) have begun development of Hub13, a 300-unit apartment project in Oak Creek, which is located just south of Milwaukee. The 34-acre garden-style community will be situated at 781 S. 13th St. Plans call for nine buildings with units ranging in size from studios to three bedrooms. Amenities will include a fitness center, yoga studio, clubhouse, pool, Zen garden, dog park, coworking space, wine room and package system. The property will border an 11-acre nature preserve. First Merchants Bank provided project financing. JLA Architects is the architect, Ayres Associates is the civil engineer and Nicholas & Associates is the general contractor. The first units are scheduled for completion by the end of the year.
By: John Quinnies - Patch Staff, Patch Oak Creek
OAK CREEK, WI — Construction on a 34-acre garden-style apartment complex called Hub13 broke ground on Tuesday, according to a press release.
The development will provide 300 new apartment units across nine buildings. The site was chosen for Oak Creek's rapid growth, according to the press release.
The $57 million development was approved in Jan. 2020 by the Oak Creek Plan Commission, the Milwaukee Journal Sentinel reported.
It will be located north of the Drexel Avenue interchange of Interstate 94 along South 13th Street, just 1 mile from downtown Oak Creek, according to the press release.
Each unit will feature luxury finishes, including hardwood floors, stainless steel appliances and quartz countertops. The entire complex will have access to a community center, fitness center, clubhouse, yoga studio, firepit and Zen garden, according to the press release.
The site will also include an 11.4-acre nature preserve with wetlands. The developer will deliver the first units by the end of 2021, according to the press release.
A separate commercial development known as Highgate is currently under construction directly south of Hub13. The proximity of the two will create a mixed-use walkable development, according to the press release.
The project is being undertaken as a joint operation between Wingspan Development Group and Batson-Cook Development Company. First Merchants Bank is providing financing, JLA Architects is the architect, Ayres Associates is the civil engineer, and Nicholas & Associates is serving as the general contractor, according to the press release.
Chris Coleman, VP of Development at Wingspan, periodically shares his thoughts and observations on property development news.