MILWAUKEE — Madison, Wisconsin-based developer Neutral has secured $133.3 million in construction financing for The Edison, a 378-unit project located at 1005 North Edison Street in Milwaukee. Mike Brady, Tara Hagerty and Merrick Evans of JLL Capital Markets arranged the senior financing through Bank OZK and the mezzanine financing through Pearlmark.
The Edison will include 308,913 square feet of rentable residential space across 31 stories. The community will offer studio, one-, two- and three-bedroom apartments. Residents will have access to amenities such as a café, fitness center, pool and spa, dog park, movie room, demonstration kitchen, community garden and entertainment deck. The property will also feature a rooftop lounge and 7,200 square feet of retail space.
A construction timeline for the development was not disclosed.