The skyline of Milwaukee's historic Third Ward is changing with a 31-story residential apartment tower developed by global property firm Hines.
The more than 327,000-square-foot building's 333 units were designed to give residents clear views of Lake Michigan and as far out as the Milwaukee suburbs. The property has 26 unit types as it looks to draw renters from graduate students to empty nesters downsizing from single-family homes, a diversity of tenants that's expected to have a positive effect on the surrounding area.
As a result, 333 Water was selected by a panel of real estate professionals as the CoStar Impact Awards multifamily development of the year for the Milwaukee market.
Designed by Chicago architect Solomon Cordwell Buenz, 333 Water is the only high-rise multifamily project in the historic Third Ward neighborhood. The building’s apartments, which include studio, one-, two-, three-bedroom units and penthouse suites, include floor-to-ceiling windows, quartz countertops and private balconies in some units.
Hines worked with West Elm, the responsibly sourced furniture retailer with a location across the street, to feature its products in the building’s model units.
The property is in a Milwaukee neighborhood with the highest Walk Score in Wisconsin at 99. That stands out in a city with many areas that require a car to get around.
333 Water is about a 10-minute walk to Milwaukee’s new Intermodal Station, an intercity bus and train station with daily round-trip Amtrak service to Chicago and Minneapolis-Saint Paul. The station is three blocks from the I-94/I-794 interchange, desirable for some commuters. 333 Water’s first residents moved in during June 2024.
The Third Ward neighborhood offers retail, restaurants and the Milwaukee Riverwalk System, as well as annual events such as Summerfest, billed as the world’s largest music festival. 333 Water is also set to welcome a restaurant that will fill a 5,175-square-foot riverfront space on the building’s ground floor, including seating space along the river.
Hines worked with government officials including the Historic Third Ward Association to ensure the property pays homage to the historic neighborhood and fits within its unique aesthetic. 333 Water also provides potential for more economic growth for the community.
About the project: The building has 22,700 square feet of community space including a pet spa, an outdoor deck with a pool, grills and cabanas, a fitness center, 24-hour concierge, cold storage for grocery deliveries, a golf simulator, indoor coworking suites and electrical vehicle charging stations. The pet spa opens onto the Milwaukee Riverwalk, and a dog park is under development nearby.
What the judges said: "333 is uniquely positioned in the heart of the Third Ward, bringing more vibrancy and workforce talent to the downtown area where there remains to be high demand for apartment rentals," said Isaac Berg, real estate adviser at Colliers.
They made it happen: David Bach, managing director, Rikki Miner, associate, and Tom D'Arcy, senior managing director, Hines; Robert Bauman, 4th District alderman, City of Milwaukee; Devon Patterson, design principal, SCB; and Brian Barry, vice president for operations, W.E. O'Neil Construction Co.