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Committee Grants One‑Year Extension for Cardinal Capital Apartment Project
Summary
The committee granted another one‑year extension to the planned unit development (final plan) for a multi‑unit apartment project at the northwest corner of Fourth Street and Wright Street, with staff recommending an extension expiring Feb. 25, 2026; the applicant asked for flexibility given financing timing.
The Government Affairs Committee unanimously approved an extension of the final planned unit development (PUD) approval for a multiunit apartment project at the northwest corner of Fourth Street and Wright Street, granting another year for the applicant to commence construction.
Staff told the committee that final plan approvals expire one year after approval if work has not commenced; extensions had been granted previously on 12/20/2022 and 01/16/2024. Staff recommended granting another extension that would expire on February 25, 2026.
Representatives for the applicant, including Chrissy Aderholt from Amundson Davis and Dana McMullen from Cardinal Capital Management, said there are no design changes to the approved plans and that permits have been issued by the state. The team cited a difficult financing environment and higher interest rates as reasons for delay but said market demand in Wauwatosa remains strong and they expect to begin construction in spring when financing is secured.
Committee members discussed timing and asked that future extension requests be calibrated so the committee does not routinely grant more than 12 months past an approval. The applicant accepted a friendly amendment to align the new expiration with the prior deadline to avoid effectively granting a 13‑month extension.
The committee voted unanimously to grant the extension and forward the recommendation to the full Common Council.
