High-end apartments announced in Milwaukee's Deer District

MILWAUKEE (CBS 58) – Milwaukee's Deer District is getting some new high-end apartments.

The announcement, made on Friday, Oct. 23, by the Milwaukee Bucks comes just weeks after their hotel announcement.

That building will go in what’s known as "lot 5." It’s the plot of land between North Phillips Avenue and North Old World Third Street.

“This is all part of a long-term vision,” says Michael Belot, senior vice president of the Bucks Ventures and Developments. “People need to be patient, but we’re going to do it right, and we’re going to do it well.”

The proposed development will have anywhere from 225 to 250 apartment units. It will include studios to 2-bedroom options.

There will also be commercial space for businesses like grocery store, gym and restaurants.

“Probably at lest a year before they break ground and then let’s say 18 months,” says Belot. “We’re maybe looking at late 22, early 2023 before all of this gets built.”

Belot says the pandemic could potentially help the design process.

“They can take into account some of the things that are going on so maybe touchless faucets,” says Belot.

“It speaks to how resilient our economy is and it speaks to the fact that we’re really thinking ahead,” says Tracy Johnson, president and CEO of Commercial Association of Realtors Wisconsin. “We’re very bullish in our city and we’re very, very confident in our state.”

Within the last three years, the Bucks have transformed their 10-acre plot of land into the Deer District with the stadium, parking structure and training facility. Now add to it the hotel and high-end apartments.

“We’ve partnered with local architects to really envision what this master plan could be, but we’re also willing to listen to everybody that works with us and provides proposals, because it’s all about finding what’s going to fit best and to make this, what we think, is going to be Milwaukee’s best neighborhood,” says Belot.

The final look of the building will be up to the developer. They’re hoping to have one picked by March 2021.