The West Allis Community Development Authority voted to approve a letter of intent (LOI) with Milwaukee-based developer F Street and to accept an assignment of F Street’s purchase offer for the property at 1405 South 90 Second Street (parcel 4500502000), a site the developer described as the former St. Helens building.

The LOI covers a developer purchase price the presenter identified as $860,000. During the discussion, the developer said the project would begin with demolition and a phased redevelopment that could include garden-style, two-story units on the south side and a four‑story mid‑rise along Greenfield Avenue. “We’re really looking at it as a demolition, redevelopment, starting on likely a 1 or 2 phase development,” said Nick Young, director of development for F Street.

Why it matters: the property is described in the meeting as blighted and subject to an ongoing foreclosure process. CDA members said approving the LOI and the assignment would let the authority protect the city’s interest while the developer pursues construction financing. The developer and CDA said they are negotiating a development agreement, TIF financing and parallel planning‑commission reviews so multiple approvals proceed simultaneously.

Project scope and timeline: F Street representatives described a mixed set of buildings. The mid‑rise on Greenfield was described at about 90 units; the garden‑style buildings were estimated at roughly 50–54 units. The developer said demolition would include hazardous‑material abatement and that demolition proposals were higher than anticipated. If phased, the garden‑style buildings would likely start first; the developer estimated roughly 10–12 months to deliver garden units after construction start and 12–13 months for the mid‑rise.

Financing and city participation: F Street asked the city to provide interim financing described in the LOI slides the presenter showed. The presentation referenced the $860,000 purchase price and also referred on the slide to a short‑term loan figure shown as $8,860,000; the CDA discussion focused on using the CDA’s and city reserves and on borrowing from an internal fund for interim assistance. Separately, the CDA discussed a demolition assistance request of about $1,000,000 to expedite removing blight and making the site ready for development; the meeting record shows the CDA considered that demolition assistance as part of the package.

Recycling and demolition approach: The developer and CDA discussed deconstruction as an alternative to straight demolition. The presenter described a contractor program that seeks to salvage and donate materials and that may return value to the owner through tax or donation credits. The developer cautioned deconstruction is labor intensive and may increase up‑front cost and schedule but could result in reclaimed material for reuse.

Approvals and next steps: The CDA read two resolutions into the record and, after a motion and second, approved both by voice vote. The resolutions were listed on the agenda as: (4) approval of a letter of intent between the Community Development Authority and F Street for the property at 1405 South 90 Second Street (parcel 4500502000); and (5) approval of assignment of a letter of purchase from F Street to the West Allis Community Development Authority for that property. The CDA and the developer said they aim to close on or before April 15 (the presenter said a closing target of “tax day, so April 15”), then begin plan‑commission review and construction bidding.

The CDA also discussed use of TIF financing later in the year and a land‑contract assignment that would allow the CDA to retake the property if benchmark obligations were not met. The meeting record shows the CDA intends to protect the city’s interest while the developer completes due diligence and secures construction financing.

Votes at a glance: Resolutions 4 and 5 were approved by the CDA by voice vote; no roll‑call tally was provided in the public record for those two votes.

Ending: CDA staff said additional details — including a draft development agreement, TIF considerations and construction financing terms — will return for future review as the developer advances due diligence and plan‑commission filings.