The conversion of the former Sonesta hotel into 146 apartments at Mayfair and Watertown Plank roads is complete, and the developers are accepting applications for studio, one-bedroom and two-bedroom apartments in the building, now named Waterfair Apartments.
The completion of the redevelopment project was announced Oct. 21 by the construction firm Kraus-Anderson, with design work by Continuum Architects + Planners. The 124,000-square-foot, eight-story building was purchased for the housing conversion by Samapa Development, which received a $1.85 million redevelopment incentive from the City of Wauwatosa through the city's newly created TIF district, providing tax increment financing.
“Creating affordable housing presents a significant challenge given current inflationary factors in labor and materials, as well as higher interest rates,” Patrick Shanahan, co-owner of Samapa Development, said in a news release. “However, the acquisition of the former hotel opened the pathway for the adaptive reuse of the eight-story concrete structure, and mechanical, electrical and plumbing systems that provided a critical advantage for controlling costs and delivering a pathway to more affordable rents.”
Common areas on the building's first floor now include a fitness center, media room, coffee lounge, conference and study rooms, a large patio and dedicated commercial office space.