Menomonee Falls — It won't be long before there will be a new luxury apartment complex in Menomonee Falls.
Everything except some slight changes to the landscaping plans and signage has been approved by village staff, and construction is expected to begin soon on more than 300 luxury apartments west of Pilgrim Road along Highway 41/45.
Whitestone Village will consist of seven three-story buildings, totaling 318 units, that will be built on almost 11 acres north of Roosevelt Drive and south of an extension of Falls Parkway, according to a village staff report.
Revised plans from Fiduciary Real Estate Development Inc. were reviewed at an August 26 meeting of the Architectural Control Board, which put its stamp on everything except the landscape plans and signage.
Village staff will review the landscaping plans, and a revised design for signage will be reviewed by the board again at their October 28 meeting.
In the meantime, construction is slated to start this fall on the $45 million project, which will be developed over two years. Four of the seven proposed buildings would each contain 48 units, and the other three buildings would each have 42 units, according to the staff report.
The apartments would be a mix of studio, one-bedroom and two-bedroom units, with monthly rents ranging from around $900 to $1,600. The first phase of the plans include the construction of a clubhouse and pool area that feature a sun deck, grilling area and club room with kitchenette and fitness area.
The apartments are another part of the larger redevelopment of the 65-acre former industrial area that includes the site of the former Stolper Steel/Western Industries factory. The well-known eyesore was demolished and replaced with the development's first phase, a 91,000-square-foot Wisconsin Athletic Club and Froedtert & the Medical College of Wisconsin Orthopedic, Sports and Spine Center.
On the opposite end of the development, a new 150,000-square-foot Costco store will anchor a large mixed-use development planned for the land currently occupied by Roskopf's RV Center.
Several other unknown retail tenants will occupy additional neighboring buildings that will total about 240,000 square feet.
"The whole area is really going to change the complexion of the Falls from the freeway," said Trustee Steve Raymonds. "That was such a terrible, blighted, nasty looking area, so we are very eager to see the rest of the development move forward."
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