Downtown Milwaukee’s Edison high-rise apartment tower is an abandoned project, according to a foreclosure lawsuit filed by its general contractor.
The Edison’s developer isn’t talking publicly about the future of the project site, 1005 N. Edison St., where constructed stopped last fall.
Meanwhile, City Hall says plans for the upscale development could be replaced by workforce housing targeting middle-income renters.
Here’s what to know.
Construction started about a year ago
Madison-based Neutral is the developer of the Edison, planned as a 31-story, 357-unit apartment tower.
Construction started in spring 2025. At a June 16 groundbreaking ceremony, Neutral CEO Nate Helbach said the Edison would be North America’s tallest mass timber high-rise.
That environmentally sustainable construction technique uses layers of wood pressed together to create columns, beams and other building frame components.
Construction stopped in September
Construction stopped in September with the Edison facing higher costs tied to inflation and tariffs.
Neutral called it a temporary pause “to address cost pressures and optimize the project’s budget,” according to a Sept. 18 statement.
The firm said it was working with general contractor C.D. Smith Construction Inc. on “value engineering.” That process considers less-expensive materials and other cost savings without reducing a building’s core functions.
Edison’s $25 million funding gap revealed
The depth of the Edison’s problems were vividly illustrated when city Development Commissioner Lafayette Crump disclosed the project’s $25 million funding gap.
Crump told the Common Council’s Zoning, Neighborhoods and Development Committee the Edison’s budget had increased from $205 million to around $230 million. That was tied to increased material costs, Crump said at the Oct. 7 meeting.
Committee Chair Robert Bauman said C.D. Smith Construction had apparently walked off the job, and subcontractors were preparing to file liens over unpaid bills.
Construction equipment removed from site
On Nov. 3, C.D. Smith began dismantling the site’s construction crane.
The Fond du Lac-based general contractor also removed other equipment from the site, which overlooks the Milwaukee River.
The foundation work and other improvements remain at the site.
C.D. Smith says it’s owed $10 million
C.D. Smith on Nov. 4 filed a lien in Milwaukee County Circuit Court saying it’s owed $10.1 million in connection with the project.
The firm also filed a lien in Dane County Circuit Court saying it was owed $4.1 million in connection with Neutral’s Bakers Place apartment development, in Madison. Neutral in March sold Bakers Place and that debt was paid off.
Several other contractors and suppliers have since filed liens connected to the Edison.
Foreclosure suit lands in court
C.D. Smith on March 6 followed up on its lien with a lawsuit in Milwaukee County Circuit Court saying it’s owed $11.3 million – and seeking a foreclosure sale of the Edison site.
Neutral hasn’t shown it can raise enough money to complete the project, according to the suit. C.D. Smith characterized the project as abandoned.
Neutral hasn’t responded yet to the suit’s claims. Helbach did file a request the court proceedings be delayed, saying C.D. Smith should be required under contract to resolve the dispute through mediation.
Workforce housing might replace Edison
Neutral executives are having conversations with potential partners about the site, Crump told zoning committee members on April 14.
Workforce housing, with apartments targeted to people earning up to 100% of the Milwaukee area’s median income, is among the possibilities, Crump said.
Crump’s department in 2025 announced guidelines to provide city financing for workforce housing. Those funds are generated by the new developments’ property tax revenue.
Tom Daykin can be emailed at tdaykin@jrn.com and followed on Instagram, Bluesky, X and Facebook.
This article originally appeared on Milwaukee Journal Sentinel: What to know about downtown’s abandoned Edison project, and its future
Reporting by Tom Daykin, Milwaukee Journal Sentinel / Milwaukee Journal Sentinel
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