Goodbye Bank. Hello Apartments?

Now vacant M&I Bank at the corner of Green Bay Rd and Riverview Dr in ThiensvilleOh boy!

Just on the heels of the hotly contested beer garden in Village Park comes another potential keg of dynamite.

On August 6th at 7 p.m. in Thiensville Village Hall, the Historical Preservation Committee, Plan Commission and Village Board will hear the first round of proposals for a 60-unit luxury apartment complex at the corner of Green Bay Road and Riverview Drive in Thiensville. Currently, it’s the home of the former M&I Bank.

The site is owned by MSP Real Estate, a Minnesota-based developer, who has significant experience developing properties in the greater Milwaukee area. Their portfolio lists senior living communities in Elm Grove, Port Washington, West Allis, Middleton, Monona and more — as well as the controversial lower-income apartment complex in New Berlin.

In 2009, MSP wanted to build an assisted living facility at the former M&I Bank location, but were deterred when neighbors objected.

Now, the real estate development firm would like to develop a luxury apartment complex. Their goal is to target young families who want to take advantage of the outstanding Mequon-Thiensville K-12 schools but who aren’t quite ready to buy a home. The other obvious target demographic is the empy-nesters looking to downsize.

The meeting scheduled for August 6th is just the first round of proposals. There’s no doubt there will be much back-and-forth before (and if) the project gains approval.

More to come on this issue . . . I’m sure!

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About Jen Keller

Jen Keller is the founder and managing editor of Your Mequon. She left the hubbub of the San Francisco Bay Area 15+ years ago and is happily raising her 3 sons in Mequon - Thiensville. Jen also runs a SEO consulting company and from time-to-time, offers SEO training.

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