I am thrilled to announce a significant milestone for Neutral and our project The Edison—we've secured $133.3M in construction financing from Bank OZK (Ako Dickson + Matt Pickel, CFA + Andrew Donahue) and Pearlmark (Mark Witt + Douglas Lyons + Stephen Quazzo)! This groundbreaking development in Milwaukee is set to become North America's tallest mass timber building, featuring 378 market-rate units. Special thanks to JLL and Mike Brady for their exceptional guidance in facilitating this loan, and this could not have been achieved without my two other partners of Neutral—Matt Frazer + Daniel Glaessl, AIA.
The 31-story tower will pursue Passive House (Phius + Katrin Klingenberg) and Living Building Challenge (Living Future + Lindsay Baker) certifications, setting new standards for sustainable urban development. Neutral is creating a blueprint for the future of multifamily development. The project will feature world-class amenities, including a sky bistro, revolutionary wellness facilities, spa, pool, outdoor gardens, adjacent park, riverwalk patio, co-working, cafe, farm-to-table restaurant, and other community spaces designed for modern living.
We're particularly excited about Edison's unique position in the market; successfully securing funding in today's challenging financial market positions the project to be the only luxury and highly-amenitized high-rise to deliver in downtown Milwaukee in 2027, which we believe will set the project up for a fast absorption pace given the tailwinds that downtown Milwaukee has with over 2.1% net immigration (according to The Concord Group, LLC and Tim Cornwell). In an era of higher interest rates, institutional buyers will increasingly seek quality opportunities like The Edison, combining superior environmental performance with lower operating costs and a stable market like Milwaukee. We invite equity investors to join us in delivering this transformative project. Neutral offers accredited investors two convenient ways to invest: through Charles Schwab using the registered SSID/CUSIP number or via Neutral's online?investor portal - link https://lnkd.in/gC-ACtUr.
#SustainableConstruction #MassTimber #RealEstateDevelopment #RealEstateInvesting #Investing #Milwaukee #UrbanDevelopment #PassiveHouse #SustainableDesign #Innovation #MultifamilyHousing
https://lnkd.in/g7HCR_JD