MILWAUKEE — Madison, Wisconsin-based developer The Neutral Project has secured $133.3 million in construction financing for The Edison, a 378-unit project located at 1005 North Edison St. 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.
The general contractor on the project is C.D. Smith Construction, and HPA is the architect. According to the developers, The Edison is on track to be one of the tallest mass timber buildings in the world. Mass timber is a construction process that uses large, engineered wood panels, columns and beams.
The project is located on the site of the former Rojahn & Malaney florist warehouse on Edison Street.
A construction timeline for the development was not disclosed.