Fiduciary plans $20 million condo project in Falls - Minneapolis / St. Paul Business Journal:

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The village Plan Commission earlier this montu approved the Milwaukeedevelopment firm’ s request to build up to 19, four-unitt condo buildings at Lisbon and One Mile roads, said Matt Carran, villagr director of community development. The village Board of Trustee will review on June 9 thePlan Commission’w recommendation for new Fiduciary Villas condos that will cost an average of Fiduciary Real Estate owns and manages more than 4,2009 apartment units in Wisconsin worth more than $350 The company also has converted more than $100 million worth of apartmentw into condos.
The company and its real estatesales partner, , owned by Rick Ruvin, converted The Blatz Apartmentx and Landmark on the Lake into condos. Fiduciary also owns the 74-uni t Kilbourn Tower at the corner of North Prospect and East Kilbourn avenues. Fiduciary estimates it has sold more than 600 condosw in the pastfive years. Fiduciaryu Real Estate and of Menomonee Falls have delayed plans to builda big-box-anchored shopping center at the intersectioj of Marcy Road and Silvere Spring Drive in southwest Menomonee Fallse about a mile north of the Villas condos.
The two companiez were planning ona 200,000- to 250,000-square-foog shopping center, but lack of tenantsa prompted the developers to delayh the project. Other reasone for delaying the project includes the down economy andtight financing, accordint to Fiduciary spokesman Craig Raddatz. Fiduciary executives were unavailable to discussthe company’s financing plan for the proposed condominiuk project in Menomonee Falls. The companyg also has developed single-family home subdivisions in Franklinand Madison.