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izTimes Media hosted a relaxed afternoon at its annual Commercial Real Estate and Development Conference, drawing a mix of southeast Wisconsin’s top developers, brokers and investors. The highlight was an “ask me anything” panel featuring Linda Gorens‑Levey (General Capital Group), Jeff Hoffman (Cushman & Wakefield | Boerke), Josh Jeffers (J. Jeffers & Co.), Matt Moroney (Wangard Partners Inc.), Bruce Westling (Newmark) and developer‑restaurateur Johnny Vassallo.
**Key takeaways**
1. **Hot spots in the region**
Oconomowoc and the Milwaukee neighborhoods of the Third Ward and Walker’s Point are attracting the most interest. Moroney praised Oconomowoc for its strong schools, rising apartment rents, emerging retail, and a community eager to collaborate. Several mixed‑use and multifamily projects have already cleared city approvals, and a 210‑acre mixed‑use plan is underway with the Village of Summit. Vassallo and Jeffers see the Third Ward and Walker’s Point as ripe for tech‑focused incubators and further investment.
2. **High‑end multifamily market debate**
Most panelists agreed that downtown Milwaukee’s luxury apartment supply is currently oversaturated, citing a surge of market‑rate units financed with cheap debt since 2012‑13. Jeffers warned that rising concessions and vacancies make it a tough time for high‑end landlords, noting that only a limited number of residents can afford $3,000+ rents. Vassallo counters, asserting that the city still needs more apartments and that financing can support continued construction, citing confidence in the 100 East conversion project.
3. **I‑794 removal is not a priority**
The debate over removing or replacing a section of I‑794 in downtown Milwaukee continues, but most panelists oppose removal. Westling highlighted existing vacant sites in downtown and the Third Ward that should be prioritized instead, warning that I‑794 removal could harm retailers and office tenants. He suggested redirecting funds to reconnect neighborhoods split by I‑43. Gorens‑Levey called for a comprehensive, collaborative solution that brings all stakeholders to the table.
4. **Incentives drive early deals**
In a higher‑interest‑rate environment, projects that receive municipal incentives or accelerated approvals move fastest. Moroney cited Mount Pleasant as a model for speed and responsiveness. Jeffers noted that while Milwaukee can’t match suburban incentive packages dollar‑for‑dollar, its overall approach is encouraging, and developers are “shopping municipalities” for public‑private partnership opportunities.
5. **Energy supply as the next economic test**
With the data‑center boom expanding into Wisconsin, panelists stressed the importance of expanding the electrical grid. Hoffman explained that a gigawatt of power can run Manhattan, and that We Energies currently serves a nine‑gigawatt area from the state line to the Upper Peninsula. Microsoft’s Mount Pleasant and Vantage’s Port Washington projects will add 4‑5 gigawatts over five years, pushing We Energies to grow capacity by 50% in a 5‑7 year span. Hoffman warned that while Wisconsin is well‑positioned for data centers, a natural tap‑out point will emerge soon.
**Event highlights**
Tracy Johnson, CEO of the Commercial Association of Realtors Wisconsin, opened the conference with CARW’s annual membership survey results, offering a snapshot of deal flow and market sentiment. Andy Sinclair, CEO of Midloch Investment Partners, delivered a capital‑markets keynote. Sponsors included Building Advantage, Husch Blackwell, First Ring Industrial Redevelopment Enterprises (FIRE) and Johnson Financial Group. Partners were Marquette University’s Vieth Institute for Real Estate Leadership and the Commercial Association of Realtors Wisconsin.
