The Sonesta hotel on the southeast corner of Mayfair Road and Watertown Plank Road would be converted into apartments under a plan that requires the city's approval of a conditional use permit.
A public hearing on the permit request is scheduled for the Wauwatosa Common Council's meeting at 6:30 p.m. Oct. 28 at City Hall and online.
The 7.5-acre property, with an address of 10499 Innovation Drive, is currently home to an eight-story hotel building with 198 units that was built 18 years ago. The proposed conversion, under the name Waterfair Apartments, would create 146 apartments that the developer says will have affordable rents and will be rounded out by tenant amenities and mix-use commercial space on the first floor, according to the project description submitted to the city. Existing outdoor surface parking would be maintained.
The developer expects to close on purchase of the property in December, begin renovation work in January and complete the conversation by June 2026. The apartments would be managed by Samapa Development Company and Oakbrook Management Company, the project description says.
The building's 126,000 square feet would become a mix of studio, one-bedroom and two-bedroom apartments, with rents ranging from $975 to $2,100. "Our plan will be to modernize the units and interiors but leave the external building footprint and facade in near like kind condition," the developers said.
"Waterfair Apartments fill a needed new niche of more affordability without excessive luxury, at rents 15-20% below current market rates and provides an economical housing solution for the Milwaukee Regional Medical Complex and Research Park workforce."
The plan also notes that the property currently has "a significant amount of aging overparked and underutilized asphalt for parking" that has the potential for new development in the future. "This blighted 'sea of concrete' could be developed into additional out lots for residential and commercial uses," the proposal said, though any potential future development would be reviewed through a separate approvals process.
After the Oct. 28 public hearing, the request for a conditional use permit for the apartments will be taken up by the Plan Commission at its next meeting. If recommended by the commission, it would then return to the Common Council for final approval.
