New Developers Take Over Phoenix Park Phase II Projects

Hanna Kaiser |

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See those empty lots? That's what we're talking about.

Phase II of the Phoenix Park Neighborhood construction has had some minor sway from the original plans. Up to now, construction was handled by Moeding Partners, by they’ve decided not to partake in Phase II. Essentially the city is considering dividing Phase II among John Mogenson and Commonweal Development after the two developers contacted the Redevelopment Authority in March. Mogenson and Commonweal were then given exclusive rights for a 60-day development and purchase agreement (up for review May 18). Commonweal is looking to claim the block from Hobart Street to Riverfront Terrace for four-story high-end brownstone apartments facing the river plus townhouse apartments facing Wisconsin Street (both with underground parking) and maybe a third building facing Galloway Street. Mogenson is looking along North Barstow, where he’d have three-story buildings with apartments on top and retail along the bottom level. The advantage to having two different faces of development in the construction project? Hopefully new developers mean a distinct look and purpose, plus a faster completion, not to mention more value. “All together, we’re looking at a possible $14 million in valuations if everything goes forward as hoped,” said Economic Development Director Mike Schatz, adding that the previous plan only called for about $5 million.