After satisfying concerns from neighbors and city officials, the Pasadena Apartments gained final approval Aug. 5 from the Common Council.
Two eight-unit apartment buildings at 8416 and 8426 W. North Avenue will be demolished to make way for Pasadena, a four-story, 24-unit apartment building. Two four-unit buildings to the east of the development will be retained.
The developer, Cardinal Capital Management, plans to do demolition work in September, begin construction in October, and open the apartments about a year later, according to Dan Kroetz, acquisitions manager for CCM. Kroetz said residents in the buildings to be razed have been given formal notice to vacate by the end of August.
The new building, about 9,000 square feet, will be faced mostly with brick in walnut and golden colors. It will have wooden bay windows, patios and stone planters. All of the units will be one-bedroom, with rates ranging from $1,000 to $1,300, Kroetz said.
Without city contributions, the developer estimates the property's assessed value will grow to $3 million.
When the Community Development Committee approved the plans in advance of Common Council, Alderman Bobby Pantuso said he thought the building would provide a "you-have-arrived moment" for travelers on North Avenue. Alderman Jeff Roznowski agreed, saying it would help improve the image of the business district.
"This is an opportunity to put a mark and gateway into a growing business district we're calling Midtown Tosa, to really define and make this a special area," Roznowski said.
Roznowski said he thought the apartments would also help attract and retain residents.
"I feel this particular proposal will attract empty nesters, keep them in Tosa, and attract young professionals before they have the money to buy their first home," he said.
Neighbors to the north originally had concerns about privacy and security that were allayed when they signed a private contract with the developer, Cardinal Capital Management.
"All of our concerns and needs have been met so we're in support of the project," neighbor Ryan Hetzel said.
Hetzel said the developer scrapped some balconies on the north side of the building, and said it would install a fence and landscaping near that property line.
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