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Funded
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We are redeveloping a 7,000 s.f. former industrial manufacturing building into a retail development for small businesses in the Walker’s Point area. The building will house two or three retail tenants, with the anchor tenant being Purple Door Ice Cream, a locally-owned, hand-crafted ice cream business. The property was acquired in July 2013 and is currently under development, with an anticipated initial completion date in February 2014.
Located at 205 S. 2nd Street in Milwaukee, Wisconsin, the property is located at a high traffic intersection in the rapidly redeveloping neighborhood of Historic Walker’s Point, just one mile south of the city center. The site is a gateway entrance to the new Reed Street Yards, a mixed-use urban office, educational, research & technology zone focused on the international water industry. Within the past five years, nearly $100 million in commercial, retail and residential developments have been proposed, initiated or completed in the area.
The total estimated cost for the Project redevelopment is $850,000. $550,000 in equity funding has already been raised and a $350,000 line of credit has already been secured. The additional equity now being raised will be used to pay down the line of credit so that we will not need to convert it into a long-term loan.
The redevelopment is led by Fix Development, a Milwaukee-based real estate developer that leads projects that emphasize sustainability and a triple bottom line. Juli Kaufmann, the founder of Fix Development, has led numerous urban and rural development projects in Wisconsin, including the award-winning Clock Shadow Building in Walker's Point.
Financial Summary
Previous Fundraise Summary
| Security Type | Common equity | |
|---|---|---|
| Investor Eligibility | All Investors |
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Financials
Team
Juli Kaufmann
Managing Member
Juli Kaufmann is President of Fix Development (www.fixdevelopment.com), a consulting company that leads projects that create more sustainable land, buildings, and organizations. She is primarily interested in social enterprise with a triple bottom line- for the benefit of people, planet, and profit. Recent work includes:
• The Clock Shadow Building: Juli developed this 30,000 s.f., $7 million, commercial building in the Historic Walker's Point Neighborhood of Milwaukee that includes aggressive environmental goals including zero storm water discharge, rooftop urban agriculture and an on-site greywater system. This project includes the introduction of the state’s first urban cheese production facility.
• Fund Milwaukee: Juli is co-founder of this local investment group that seeks to match unaccredited local investors with opportunities to support local entrepreneurs. The effort has raised over $1 million in local capital to date and has made initial local investments that include Purple Door Ice Cream, Bolzano Artisan Meats, Martha’s Pimento Cheese, Central Greens, Brenner Brewing Company, Coast In Bikes, and others.
Juli has received significant recognition for her work. A selection of recent awards includes:
• The Greater Milwaukee Foundation honored Juli Kaufmann with the Frank Kirkpatrick Award for her efforts to create a city that is healthy, thriving and viable for all, June 2013.
• The Clock Shadow building was recognized nationally by the AIA as a Top Green Project. This highly-competitive award recognizes exemplary built projects that establish a standard of excellence in sustainable design, demonstrate its benefits, and educate both the profession and the public, May, 2013.
• The Clock Shadow Building received a MANDI , an honor awarded by LISC Wisconsin for a real estate project that contributes significantly to the community, January, 2013.
• Juli Kaufman named Innovator of the Year by the Daily Reporter of Wisconsin during their annual Newsmaker event, October 2012.
• Wisconsin Commercial Real Estate Women named Juli Kaufmann Outstanding Commercial Real Estate Woman of the Year, June 2012.
Prior to joining the private sector, Juli served more than 15 years in executive leadership positions within Wisconsin’s nonprofit sector, leading a range of Milwaukee-based and statewide health and community development organizations. Juli has a bachelor’s degree in business administration from the University of Michigan with continuing education from the University of Wisconsin and Harvard Business School. Juli's volunteer service includes: current member of the Mayor’s Green Team, and Board Member of Radio Milwaukee and Midwest Bikeshare, Inc.
About Freshwater Fix, LLC
Company Updates
Walker's Point Featured in New York Times
January 25, 2014
Walker's Point is getting lots of press these days, highlighting how "hot" the area is. Here is just one recent example, featuring many of our neighbors as well as our tenant Purple Door Ice Cream!
Discussion
| Topic | Last activity |
|---|---|
| Fix Development 8 comments | over 5 years ago |
| Tenants 2 comments | over 5 years ago |
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Company Updates
Walker's Point Featured in New York Times
January 25, 2014
Walker's Point is getting lots of press these days, highlighting how "hot" the area is. Here is just one recent example, featuring many of our neighbors as well as our tenant Purple Door Ice Cream!
Discussion
| Topic | Last activity |
|---|---|
| Fix Development 8 comments | over 5 years ago |
| Tenants 2 comments | over 5 years ago |