Mandel would break ground in spring
By TOM DAYKIN
tdaykin@journalsentinel.com
Mandel Group Inc. is proceeding with plans to build new condominiums adjacent to the firm's Marine Terminal Lofts project in Milwaukee's Historic Third Ward.
The new development, called Domus, which is the Latin word for house or home, will be built on a parking lot just east of Marine Terminal Lofts, which overlooks the Milwaukee River at 120 N. Broadway.
Mandel plans to break ground on the five-story project in spring but has not yet filed any plans with the Department of City Development or the Third Ward Architectural Review Board, said Bob Monnat, Mandel's chief operating officer.
Monnat declined further comment on the project. The Business Journal reported Friday that the $40 million development will have 61 units, priced at around $450,000 to $1 million.
Mandel has been marketing the Domus project through its Internet site for six months. The firm acquired the parking lot in 2003 when it bought the Marine Terminal building, an empty industrial property that Mandel later converted into housing and commercial space.
Mandel has since sold all but four of the 84 condos at Marine Terminal Lofts, according to the firm's Internet site. The building's street-level commercial space is anchored by Hammel Green and Abrahamson Inc., an architectural and engineering firm that leases around 30,000 square feet.
Domus becomes the second Third Ward condo project to move forward recently.
Earlier this week, Chicago-area developer Yiannis Konstantinou completed his purchase of the former Reliable Knitting building, at 233 E. Chicago St., for $3.6 million, where he plans to develop 57 condos.
Link: JS Online:.
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