The Milwaukee County Board of Supervisors voted, 17-1, to approve selling a parcel of Park East land to Minnetonka, Minn.-based Opus Development Co. LLC and Chicago-based Mercy Housing Lakefront.
Opus and Mercy have proposed a $60 million mixed-use project for the 2.3-acre parcel bounded by North Water, North Milwaukee and East Ogden streets and North Broadway. The firms will pay $2.5 million for the land.
The project is expected to include 33,000 square feet of retail space, 21,000 square feet of office space and 190 residential units. Construction is expected to begin next fall and could take between 18 and 24 months.
– Beth Kevit