Har­bor Dis­trict de­vel­oper buy­ing KK River site

No plans an­nounced yet for 2.3-acre par­cel

Milwaukee Journal Sentinel - - Business - Tom Daykin Tom Daykin can be emailed at tdaykin@jrn.com and fol­lowed on In­sta­gram, Twit­ter and Face­book.

The op­er­a­tor of the Har­bor Dis­trict’s first apart­ment and re­tail de­vel­op­ment is plan­ning to to buy a nearby site over­look­ing Mil­wau­kee’s Kin­nick­in­nic River.

Wan­gard Part­ners Inc. isn’t yet an­nounc­ing its de­vel­op­ment plans for the 2.3-acre par­cel at 1958-1970 S. First St.

The firm is com­plet­ing its due dili­gence on the site as part of the planned pur­chase, said Ste­wart Wan­gard, chair and chief ex­ec­u­tive of­fi­cer.

Wan­gard de­clined to pro­vide ad­di­tional in­for­ma­tion.

The site in­cludes a 30,000-square­foot in­dus­trial build­ing that houses Com­mer­cial Heat Treat­ing Inc.

That firm is merg­ing with Com­plete Heat Treat­ing, 1530 S. Bar­clay St., and is mov­ing out. The build­ing likely will be de­mol­ished to make way for new con­struc­tion.

The prop­erty fea­tures more than 570 feet of river frontage.

It’s also next to two va­cant parcels, to­tal­ing just un­der 1 acre, in the 1900 block of South Kin­nick­in­nic Av­enue that are owned by the City of Mil­wau­kee.

Depart­ment of City De­vel­op­ment of­fi­cials have had dis­cus­sions with Wan­gard Part­ners about a pos­si­ble sale of the city-owned parcels for a fu­ture project, said Jeff Flem­ing, depart­ment spokesman.

The South First Street prop­erty is owned by a group led by San Diego in­vestor John Junge.

Junge’s group, Com­mer­cial Heat Treat­ing Hold­ings LLC, bought the prop­erty in June for $1.1 mil­lion.

Wan­gard Part­ners devel­oped the first new project in the Har­bor Dis­trict, which cov­ers about 1,000 acres bor­dered roughly by South First Street, the lake­front, the Mil­wau­kee River and Bay Street/Becher Street.

Wan­gard’s de­vel­op­ment, Fresh­wa­ter Plaza, is east of South First Street and north of East Green­field Av­enue.

Nearby de­vel­op­ments

The South First Street site is just north­east of where Michels Corp. plans to de­velop River 1, a mixed-use project on the Kin­nick­in­nic River.

River 1’s $49 mil­lion first phase would fea­ture an eight-story build­ing with about 130,000 square feet that Michels Corp. would an­chor with around 400 em­ploy­ees.

Also, Ko­matsu Min­ing Corp. in Septem­ber an­nounced plans to de­velop a nearby cor­po­rate cam­pus on a 60-acre site over­look­ing the in­ner har­bor at the end of East Green­field Av­enue.

The $285 mil­lion de­vel­op­ment would house man­u­fac­tur­ing op­er­a­tions now based at 4400 W. Na­tional Ave., West Mil­wau­kee, as well as cor­po­rate of­fices at Honey Creek Cor­po­rate Cen­ter, 135 S. 84th St., on Mil­wau­kee’s far west side.

It would have around 1,000 jobs that in­clude 600 lo­cal em­ploy­ees who will move there.

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