The project site at 4300 W. Brown Deer Road and 8989 N. Deerwood Drive previously was the location of two 1980s office buildings that F Street demolished late last year, and the company is now looking to raise $11.6 million in equity for the apartment development.

Project plans call for eight residential buildings with garden-style apartments, which F Street says will help fill a housing niche for those looking for a “manageable living space” without sacrificing the feeling of a single-family home. These apartments are particularly popular due to the shortage of single family homes for sale, according to documents from F Street.

The units will vary in size from “junior one bedrooms” at 579 square feet to three-bedroom units as large as 1,626 square feet. A majority of the units will have one and two bedrooms.

Junior one bedroom units will rent for just under $1,400 per month, one bedroom units for around $1,850, two bedroom units for about $2,240, and three bedroom units for about $2,670.

In total, F Street is anticipating about $3.9 million from rent and other fees, investor documents show.

The apartment complex will also include amenities associated with class A apartment developments, such as a clubhouse, dog run and spa,

A 1-acre lot at the corner of Brown Deer Road and Deerbrook Trail will be reserved for commercial development. Plans for that building have not yet been released.

F Street is eyeing a late summer construction start with units available for pre-leasing in early 2025. F Street is planning to close this funding round at the end of July.

Investors could earn 8% preferred return on an investment of $200,000. Investors will be first paid on 8% preferred return accrual; any remaining available dollars will be used to pay down the initial investment, according to investor documents.