VentureSpace LLC, a commercial real estate developer specializing in duplex-style commercial condominiums, has acquired a property in New Berlin, Wis., half of which will be sold to a self storage company, with a condo complex to be built on the remaining parcel. The site at 5330 Racine Ave. housed the former Prospect Hill Elementary School, which has been vacant for more than a decade, according to the source.
VentureSpace owner Michael Frede will present his plan to residents during a Jan. 30 neighborhood meeting, which will be co-hosted by Mayor Dave Ament, and aldermen Ken Harenda and Keith Heun.
“The reason we are having a public meeting is because we like to get input and feedback from people living in the area. We want to be sensitive to people’s concerns, and feedback can influence how our development would actually look,” Frede told the source. “We don’t want to be a thorn in people’s sides.”
Based in Nashotah, Wis., VentureSpace is focusing on condo developments in the southeastern portion of the state, according to its website. It has properties in Oconomowoc and Sussex, and is developing a mixed-use project in Cedarburg, which is expected to include self storage.
Its condominiums are targeted at businesses and hobbyists. The typical unit size is 1,500 square feet with 14-foot ceilings. Custom options include air conditioning and bathrooms.