Upscale St. Francis lakefront apartments get first OK
A large upscale apartment development proposed for a St. Francis site overlooking Lake Michigan has received its first city approval.
Campbell Capital Group LLC wants to develop 236 units in a building, ranging from two to four stories, on 7.5 acres at 4200 S. Lake Drive.
The Planning Commission voted unanimously Tuesday night to recommend approval for the proposal’s preliminary design, said Mark Johnsrud, city administrator.
The Common Council will review that recommendation at its Oct. 2 meeting.
If the council approves it, Campbell Capital would then submit detailed plans that would likely be reviewed by the Plan Commission at its Oct. 24 meeting, Johnsrud said Wednesday.
Those detailed plans also would need council approval.
Finally, Campbell Capital might seek city financing assistance through a tax incremental financing district.
Under that proposal, which would need separate council approval, city funds would be provided through new property taxes generated by the apartments.
If a development agreement is approved by December, Campbell Capital could seek bids and begin construction by spring or early summer of 2019, Johnsrud said.
The apartments would take about a year to build, he said.
Atlanta-based Campbell Capital changed its initial design to shorten the proposed building to two stories in some areas.
That creates better views of Lake Michigan from Lake Drive and the sidewalk, Johnsrud said.
The development would have one- and two-bedroom units, said Michael Campbell, Campbell Capital owner. There would be both underground and surface parking spaces.
The apartments would feature quartz or granite kitchen counter tops, in-unit washers and dryers, and private patios and balconies, according to plans filed with the city.
The development also would include a clubhouse,a fitness center, a courtyard with a grilling area and an outdoor swimming pool.
“Everything is oriented towards the lake,” Campbell said.
Along with overlooking the lake, the location is strong because it’s near parks, is on the Oak Leaf Trail and is a relatively short drive to several large employers in downtown Milwaukee and Oak Creek, he said.
The apartments also could land people who will work at the future Foxconn Technology Group manufacturing complex in Mount Pleasant, Campbell said. “It’s a great site,” he said.
Campbell’s project would be the second high-end apartment community to be developed recently on the St. Francis lakefront.
Kenosha-based Bear Development LLC is building a 214-unit project at 4000 S. Lake Drive. That $24 million development is to be completed by June.