GREEN BAY, WI (WTAQ-WLUK) – A prestigious Milwaukee developer says it’s on pace to introduce a luxury apartment project to downtown Green Bay within the next three months.
It would be built on the empty parking lot on Cherry Street, between Adams and Washington Streets, one block east of the Fox River.
High end proposals for the prime vacant lot have come and gone in recent years, but New Land Enterprises says it’s close to introducing a prototype that would be in line with its award-winning buildings in Milwaukee.
“New Land Enterprises has proven in a larger metro market, like Milwaukee, that they are very talented and good at what they do,” said Jeff Mirkes, the executive director of Downtown Green Bay Inc. “They’re developments speak for themselves.”
New Land is best known for Ascent, the world’s tallest mass timber building.
The developer says its plan for Green Bay would be most like its most recent Milwaukee work, called NOVA.
“It’s a podium building where the garage is inside the podium and you can see it’s being hidden by townhomes in the middle of the building, by retail on the corner, and then the lobby is on the back corner,” said Tim Gokhman, managing director for New Land Enterprises, about the NOVA building.
New Land leaders say the amenities in Green Bay’s building would also be similar to NOVA, which includes an outdoor infinity pool, clubhouse, fitness center, and coworking spaces.
“We’ve had the mentality of what does it mean to integrate hospitality, the hotel mentality, into property management and multi-family development,” said Gokhman.
Rents at NOVA in Milwaukee range from $1,600 to more than $4,000 a month for the most high end units.
“The Green Bay market is proving that high end residential is in demand,” said Mirkes. “When this type of product comes online, it may create some openings elsewhere where other people in the community are able to move into units being vacated.”
New Land says its Green Bay development will be include at least 258 units.
The city’s Redevelopment Authority extended New Land’s planning option for the parking lot site by three months on Tuesday.
Gokhman says the company should have a building design and project economics finished in that time.
Comments