4-unit building to replace fire-destroyed apartments
A small apartment building that was badly damaged in a 2019 fire on Milwaukee’s east side is to be razed and replaced by a new $1 million housing development.
The three-story building, which had three apartments, is at 2604 E. Park Place. It is just across Park Place from the historic Downer Avenue Commercial District.
The damaged building would be replaced by a four-unit apartment building under a new proposal. The developer is Seattle-based Bridge33 Capital LLC, which in April bought several storefronts within the Downer Avenue Commercial District.
“Due to fire damage, the existing structure could not be preserved,” according to a proposal submitted to the Milwaukee Board of Zoning Appeals by Bridge33 Capital.
“In light of cost and labor inflation, building a 3 unit replacement is noneconomical, thus our request for 4 units,” said the proposal, which is seeking a variance from the board.
Bridge33 Capital plans to build a townhouse-style apartment building with a design similar to the damaged building, the proposal said.
The firm said “maintaining the spirit, purpose and intent” of the site is essential to the vibrancy of the neighboring business district.
Bridge33 Capital’s affiliate bought two buildings, at 2608-2650 and 25512597 N. Downer Ave., for $11.25 million in April.
The buildings total around 61,000 square feet.
Their tenants include Starbucks, Boswell Book Co., Downer Theatre, Pizza Man restaurant and Henry’s Pub and Grille on the west side of Downer Ave., and Cafe Hollander, Downer Cleaners, Breadsmith, Downer Wine & Spirits and Stone Creek Coffee on the street’s east side.
The apartment building was left uninhabitable after the Aug. 31 fire, which caused $700,000 in damage.
A Milwaukee man, Paul E. Wise, 53, was charged with with arson, three counts of first-degree recklessly endangering safety and misdemeanor battery in connection with the fire. That case is still pending in Milwaukee County Circuit Court.