Cobalt Partners gets early approval for $90M apartments in Wauwatosa

A Wauwatosa board has approved early plans for 358 apartments on Bluemound Road after the developer returned to the drawing board.

Developers Cobalt Partners and John Vassallo presented plans for Tosa Lofts, a five-story apartment complex for 11811 W. Bluemound Road. The plans went to the Wauwatosa Design Review Board on Dec. 5, but the committee held the project. After returning to the board with minor changes to the exterior, the developers on Jan. 2 secured approval from the committee.

The developer made changes to the exterior aesthetic for the north and east façade along Bluemound Road and the south façade along Cathedral Avenue after hearing feedback from the community and the board, plans showed. The developer also added a unit and moved a visitor parking entrance to Homewood Avenue, plans showed.

The city must approve site plans before construction can begin. Project construction will cost around $90 million, said Scott Yauck, president and CEO of Cobalt Partners.

Developers plan to demolish a school building on the site in the first quarter of 2025, Yauck said. Construction is expected to start in the second quarter of 2025 and will take 20 months, he added. Milwaukee-based Korb Architecture provided design services for Tosa Lofts.

The apartment complex will be made up of a mix of junior, one- and two-bedroom units, early plans showed. Of the units offered, 20% will be held for those making 80% of the area median income, Yauck noted.

In July, Vassallo bought the former Wisconsin International Academy property for $2.91 million. The school building was first built as a hotel in the late 1950s.

Wauwatosa is currently an active zone for housing proposals with hundreds of units. In December, Mandel Group sought a conditional-use permit for 196 units at North Mayfair Road and Wisconsin Avenue, at the edge of the Milwaukee County Research Park. The same developer is pushing for a 157-unit apartment complex in the Wauwatosa Village.

Three Leaf Partners has plans for more than 150 units in the Wauwatosa Village slated to be built over a former church and school. Barrett Lo Visionary Development, based in Milwaukee, has also shared designs for 918 apartments next to Mayfair Mall.