High-rise apartment proposal on Milwaukee's east side receives mixed feedback from neighborhood

MILWAUKEE (CBS 58) -- A new high-rise apartment building proposed on Milwaukee's east side is receiving mixed feedback from the neighborhood. 

The 25-story luxury apartment building would replace a parking lot near Farwell Ave. and Curtis Place.

The proposal from New Land Enterprises consists of 310 market-rate apartments.

Developers said the building is estimated to increase annual property taxes by more than $1 million. 

Ald. Jonathan Brostoff hosted a neighborhood meeting at Renaissance Place Thursday night, where people living near the proposed site asked questions and shared both support and concerns.

"Anytime we can take a surface level parking lot and add some value to it and create some housing for the community, that's fantastic," Brostoff said.

Many people at Thursday's meeting brought up concerns about parking.

The proposal includes a seven-floor garage with more than 460 parking spaces reserved for residents, Renaissance Place and the Mexican Consulate.

Others questioned the need for mixed income housing, a concern Brostoff also addressed.

"The way we get affordable housing is by increasing the tax base and having more money for options like that," Brostoff said.

The current proposal leaves Renaissance Place standing, with plans to renovate and bring in new ownership.

"I'm glad we're going to get to maintain this and continue the community usage," Brostoff said. 

The building needs final approval from the Common Council.

If approved, developers hope to begin construction by 2024.