Nearly six years after the first Park East strip parcel was sold by Milwaukee County, a long-delayed development on that property is about to begin construction.Excavation work will start Monday for the project’s first phase of 104 apartments, 7,000 square feet of commercial space and a parking structure, said developers Stewart Wangard and Tony DeRosa, of Wangard Partners Inc. Completion is expected by September 2014.
“This has been in the works for quite a few years,” Wangard said Tuesday.
The first phase will be on about half of the three-acre development site, a block bordered by N. Milwaukee, N. Jefferson and E. Lyon streets and E. Ogden Ave. Future phases will include more apartments.
The $21 million first phase is being financed mainly with loans from Associated Bank and The Private Bank, said Wangard, chairman and chief executive officer, and DeRosa, vice president of development.
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