Walkers Point, the one fastest growing and most up and coming areas in Milwaukee, is the “new frontier” for Downtown Milwaukee, connecting Bay View to the 3rd Ward. The district, also known as the “Fifth Ward” is quickly evolving into a foodie’s dream neighborhood. With many factories that have been and are scheduled to be converted into commercial or residential spaces, one can find an abundance of restaurants, coffee shops, and clubs while just blokes from the 3rdWard and Bay View.
What’s Happening in Walker’s Point
In May 2014, construction began on a 120-unit upscale apartment development, featuring 3 five story buildings. The $12.2 million project by Tim Gokhman will be north of W. Washington St. between S. 1st and S. 2nd St. The average rent for these apartments will be $1,350.
On Thursday, October 22nd , there was a groundbreaking ceremony for “The Freshwater Plaza.” This development by Wangard Partners is a mixed-use development adjacent to the inner harbor and will be the gateway to UWM’s School of Freshwater Sciences. Wangard specializes in green, sustainable, and efficient spaces for office, multi-family, industrial, and retail. Freshwater Plaza is projected to create 75 construction jobs and 156 permanent jobs, as well as attract regional and national tenants.
Why it Could be Important to You
Already a very walkable area, Walkers Point will become even more accessible after the Street Car project loops through, which is part of the long term plan. While the area is quickly growing and increasing in popularity, real estate is still quite affordable. This could be a great time to get in on the ground floor at a reasonable cost and watch your property values rise as the community continues to grow.
Real estate inventory in the area is limited, so some of the homes available will need updating, but there are a few great options. One example of this is a property listed for only $39,900, just blocks from Freshwater Plaza. This 3 bedroom, 1,000 sq. ft. home already has some updates and could use a few more but could be the opportunity you are waiting for!
Bob Arnold is a qualified Walkers Point Real Estate Agent who understands the market and can help you navigate the purchase of your new home or condo.
For more information on Gokhman’s apartment development:
For more information on Freshwater Plaza:
For more information on 322 W. Orchard St.: