USG/OZI has announced the addition of a six-story Class A multifamily development in Milwaukee, Wisconsin to its portfolio. The Elevation 1659 project, which will have 76 units, is scheduled to be completed in July 2023. Average rent is expected to be $1,900.
The project is being developed by Ogden & Company, the largest full-service real estate company in Wisconsin. Renderings of the project show a unique design that allows for most units to receive natural sunlight exposure from two or three sides.
“The combined parcels are triangular, which allowed us to think creatively about how to maximize the look of Elevation 1659,” said Jason Pietsch, managing member with Ogden & Company. “This is a unique design. No one else in this marketplace offers it.”
The USG/OZI fund officially launched in June 2021. It implements a unique model that allows investors to choose their projects and investment amounts from a portfolio of developments across the country. In addition to the Elevation 1659 project, the portfolio currently includes a senior living facility located 17 miles east of Hartford, Connecticut.