The Park East Hotel Structure, 96 New Apartments

July 31, 2019

 

As everybody knows, recently the formal Park East Hotel near downtown Milwaukee has been renewed into 96 luxury apartments and the new apartments are called Vantage on the Park. In the morning of 28 February, in the recently finished Vantage on the Park near downtown Milwaukee, about fourteen apartments were rented out.

 

President at Klein Development Michael Klein said, the renters previously run the gamut regarding age. He also said that there are more seasoned couples and young professionals moving to the downtown region subsequent to selling houses in Whitefish Bay and Shorewood.

Klein said “we’re getting a blend of everyone.

 

The building that used to be Park East Hotel is the Vantage building at 916 E. State St. Nearby developers stripped the old building down to its concrete structure, and reconstructed it as contemporary apartments.

Klein said, the development team bought the Park East Hotel in September 2017 and the hotel closed that day. Klein Development invested in the project along with Millennial Partners, a firm with offices in Milwaukee and Florida, and Milwaukee real estate investor Jeno Cataldo. Klein said, we mainly bought a five-story, cast-in-place concrete building & a parking structure.

Vantage on the Park

Vantage on the Park consists of both roof space & townhome style apartments and its open concept design is contemporary and appealing.

Klein said, the 96 apartments are the mix of one-bedrooms, two-bedrooms and studios.  Apartments feature quartz countertops, vinyl plank flooring, stainless steel appliances, and a full-size washer and dryer. Vantage on the Park comprises above & underground parking, a community room that offers a variety of resident facilities and a community deck overlooking of both Lake Michigan just to the east, and downtown Milwaukee to the southwest.

 

Klein said the studios begin at about $1,300 per month, and the higher-end two bedrooms can lease for up to $4,000. In the sixth story, the 106,000 SF building features penthouse apartments each offering 12-foot ceilings & private balconies.

 

The higher-end units are on the sixth floor, which is a vertical addition contractor built atop the original five-story hotel structure. Klein said the roof was designed for a helipad so helicopters could taxi people from the airport to the hotel, therefore, it has the strength to bear the weight.

The apartments on the second floor have higher roofs, achieving taller than 10 feet since that dimension was built for the hotel’s ballroom. Fairgrounds Coffee & Tea will possess the corner retail space on the building’s primary floor, with outdoor seating neglecting neighboring Juneau Park. It could open this late spring.

The building is served by a neighboring 125-stall parking structure that doubles as a probable next stage of development. An about 100,000-square-foot building could be created there, which could have novel apartments and replacement parking spaces, Klein said. He also said that the second phase isn't unavoidable, and would pursue rent-up of the presented Vantage units.

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