Milwaukee King Drive warehouse to be converted to possible retail space and apartments

A century-old building on Milwaukee's King Drive, now used as a warehouse, would be converted into commercial and residential space under a new proposal.

The two-story, 11,300-square-foot building is at 1920 N. King Drive. It's being sold to MLK 1920 LLC, led by James Phelps and his fiancee, Morgan Shelton.

Phelps and his brothers, Jalin and Clifton Phelps, operate JCP Construction LLC, which is based nearby at 1849 N. King Drive. Shelton operates TrussPR, a local public relations firm.

James Phelps said he has long eyed the building as a potential development opportunity.

"It's a nice building with a great facade that just needs to be activated," he said Tuesday.

The plan is to create one or two apartments on the second floor, Phelps said, and just under 5,000 square feet of commercial space on the first floor.

Possible uses for the commercial space include an events venue, co-working space and a professional services provider, he said.

Phelps and Shelton hope to complete their purchase of the building in June and begin renovations. The work is to be completed by November.

MLK 1920 LLC is seeking a $325,000 loan from Milwaukee Economic Development Corp., a nonprofit business lender.

The primary lender for the $752,000 project would be People's Bank, according to MEDC. The project's budget includes $335,000 for buying the building and $417,000 for the renovations.

MEDC's Loan and Finance Committee is to review the loan request at its Wednesday meeting.

The building was constructed in 1900 and is now owned by Febco Refrigeration Inc., according to city assessment records.

It's on the same block as a proposed new three-story building, anchored by a medical office. That 12,200-square-foot building has been approved for 1940-1948 N. King Drive. It would be the street's first newly constructed building in more than a decade.

The development being done by Phelps and Shelton will help continue King Drive's new momentum, said Deshea Agee, executive director of the Historic King Drive Business Improvement District.

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Tom Daykin can be emailed at tdaykin@jrn.com and followed on Instagram, Twitter and Facebook.