Harbor District developer buying KK River site
No plans announced yet for 2.3-acre parcel
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.
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.