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Bakers Place
Madison, WI
206
Units
8,365 SF
Equity
Multifamily
Back
Bakers Place
Madison, WI
206
Units
8,365 SF
Equity
Multifamily
Bakers Place is a multifamily development that will bring 206 luxury for rent apartments to the continually growing city of Madison, Wisconsin. The 14-story Bakers Place will total 164,707 rentable square feet and will offer studio, one-, two- and three-bedroom units, as well as approximately 8,400 square feet of complementary retail space. The project will feature luxurious apartment units with exposed mass timber, expansive views, designer fixtures and finishes, and an integrated technology package. The best-in-class community amenities will include a library and co-working space, a fitness center with personal trainers and Peloton studio, a dog park and grooming station, an entertainment deck with a kitchen and an interactive game room, and lounge. Bakers Place closed on its construction financing in late 2022 and is under construction with a projected completion date of March of 2025.
Mass Timber
Certified
Green Roof
Cafe
Add To Your Investment Portfolio
$~30M
EQUITY CAPITAL GOAL
EQUITY CAPITAL GOAL
EQUITY CAPITAL RAISED
14.8%
PROJECTED IRR
Project Details
Funded
PROJECT STAGE
Construction Complete Q2 2025
EQUITY CAPITAL GOAL
EQUITY CAPITAL GOAL
EQUITY CAPITAL RAISED
$~30M
BUILDING TYPE:
Multifamily
RESIDENTIAL UNITS:
206
COMMERCIAL SQFT:
RESIDENTIAL SQFT:
8,365 SF
Financials
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Bakers Place
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Market Highlights
Bakers Place will add to the growing vibrancy of the East Washington Avenue corridor of Madison, WI, that has blossomed into an epicenter of commerce and economic growth in the city. The past decade had seen a drastic increase of up-scale housing and retail in the area, the demand for which is far from being completely met. Large employers in the area such as Epic Systems and the University of Wisconsin--among others--are continually growing their workforces, bringing more and more talented individuals in need of housing to the Madison area. The city of Madison has also experienced immense growth of student populations in need of housing, from schools such as the University of Wisconsin-Madison, Madison Area Technical College, and Edgewood College. The presensce of these student populations puts pressure on the overall housing market in the city, further increasing the demand for housing in the entire Madison area.
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TARGET EQUITY MULTIPLE
2.3
x
TARGET TERM LENGTH (MONTHS)
84
-
TOTAL TARGETED RETURN
COMPARE RETURNS:
AVG. S&P 500
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AVG. REAL ESTATE INVESTMENT TRUST
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Project Description
The Bakers Place project is an innovative mixed-use development situated in the heart of Madison, Wisconsin. The development is a 14-story structure built using Mass Timber, consisting of 206 modern homes, while preserving the oldest historical segment of the original Gardner Baking Co. Building. The development plan is carefully crafted to embrace the existing heritage architecture and restore vitality to the neighborhood through the construction of a towering residential building, which rises from nine to 14 stories and features an elevated landscape courtyard. The project’s design is anchored by the principles of heritage preservation, environmental sustainability, technological advancement, and community integration, thus setting a new standard for urban development. Bakers Place, located in Madison, Wisconsin, will be constructed using cutting-edge cross-laminated timber construction and Passive House design principles. This approach will significantly reduce both embodied and operational carbon impacts while enhancing thermal and acoustic comfort for occupants. This project will be LEED certified and includes an extensive network of green roofs, contributing to a progressive stormwater management strategy. In line with our commitment to sustainability, we have proposed an innovative Tesla rideshare program and a bike-share program to enable occupants to live convenient, community-connected lifestyles while reducing their carbon footprints.The property’s two-story Gardner Baker Co. Building, which dates back to 1917, is the oldest historic structure on the site and was identified as a potential landmark in the 1998 Downtown Preservation Plan. Our designs aim to restore and preserve the significant areas of this heritage building while creating an intersection between the new and old elements, highlighting the site's history, promoting community, and encouraging new growth and activity. Our project is driven by a dedication to heritage, sustainability, innovation, and community, making Bakers Place a truly exceptional development.
Project Team
C.D. Smith
MG Architecture
ARUP
RDH
Rivion
Angus-Young
RWDI
JT Engineering
True North
Terracon
JLL
Equilibrium
FAQs
What is an Accredited investor?

An Accredited Investor refers to an individual or entity that meets certain financial criteria and is allowed to invest in certain private securities offerings, including private equity real estate investments. The concept of an accredited investor is defined by the U.S. Securities and Exchange Commission (SEC) under Regulation D of the Securities Act of 1933. To qualify as an accredited investor, an individual must meet at least one of the following criteria:

  • Income Requirements: The individual must have an annual income of at least $200,000 (or $300,000 if married) in each of the past two years, with a reasonable expectation of reaching the same income level in the current year. Alternatively, if the individual does not meet the income requirements, they may qualify based on their net worth.
  • Net Worth Requirements: The individual's net worth must exceed $1 million, either individually or jointly with their spouse. Net worth is calculated by excluding the value of the individual's primary residence.

In addition to the individual criteria, certain entities can also qualify as accredited investors. These qualifications are subject to change and there may be additional criteria or exemptions depending on the specific regulations and offering to learn more please visit the SEC website here.

What is the liquidity of The Neutral Project assets and can I sell my investment before the asset trades?

The Neutral Project’s typical hold period for any asset is between 4-10 years. This allows The Neutral Project to develop, stabilize, and sell a project to maximize value and returns for investors. The specific hold period for each project depends on certain conditions, such as financing, tax implications, and market timing. The Neutral Project carefully analyzes these conditions for each project.  

Yes, The Neutral Project offers potential liquidity on a quarterly basis. Our Secondary Market matches buyers and sellers of our projects. This revolutionary exchange allows attractive opportunities to value investors, while sellers get unprecedented access to potential liquidity. New opportunities are available every quarter.

Yes, The Neutral Project provides the opportunity for quarterly liquidity. Through our innovative Secondary Market, we connect buyers and sellers of our projects, creating a groundbreaking platform that offers enticing prospects for value investors. Sellers, on the other hand, gain unprecedented access to potential liquidity, unlocking new avenues for financial flexibility. With fresh opportunities emerging every quarter, our platform ensures a dynamic marketplace for those seeking sustainable investment options.

What is Mass Timber?

Mass timber refers to a type of construction material made from softwood that has a unique ability to reduce embodied carbon through photosynthesis during its lifetime. The trees sequester carbon, and when you take the wood and put it into a product that allows you to create a structural element in a building, then your building, in essence, becomes a carbon sink. Mass Timber is an innovative and sustainable alternative to traditional building materials such as concrete and steel. Mass timber products are typically made from layers of smaller pieces of lumber, such as cross-laminated timber (CLT), glued-laminated timber (glulam), and laminated veneer lumber (LVL). In real estate development, mass timber has gained popularity due to its several advantages, such as sustainability, speed and efficiency, fire resistance, aesthetic appeal, and structural strength.

Why is multifamily real estate more attractive than commercial real estate or REITs? 

Multifamily real estate is often considered more attractive than commercial real estate for a couple of reasons. First, multifamily properties tend to offer a more stable and consistent cash flow due to the demand for rental housing, especially in densely populated areas. This stability is further enhanced by having multiple units generating income, reducing the risk with vacancy or tenant turnover associated with commercial buildings with only a few tenants paying rent. Second, multifamily properties can benefit from economies of scale as the costs of maintenance, management, and utilities can be spread across many units, potentially resulting in higher profitability compared to commercial properties.

Real Estate Investment Trusts (REITs) are publicly traded investment companies specializing in specific property types and markets, like multifamily REITs. They own and operate real estate assets, and investors can buy shares to receive dividends from the generated income. On the contrary, investing in The Neutral Project involves a special purpose entity in a specific asset developed by the company. These private equity investments entail active management and come with higher return profiles. Unlike REITs, investors with The Neutral Project have the freedom to choose individual assets rather than investing in a fund that charges a fee to allocate to specific assets. This approach results in lower overall fees and provides investors with more discretion.

What is sustainable real estate development and why should I invest in it?

Sustainable real estate development refers to the practice of creating buildings, communities, and infrastructures that minimize their environmental impact while maximizing economic and social benefits. It involves incorporating energy efficiency, eco-friendly materials, renewable energy sources, and green building techniques into the design, construction, and operation of properties. Investing in sustainable real estate developments offers several advantages; it aligns with the growing demand for environmentally responsible properties and enhances the long-term value of your investment due to lower operating costs, and fosters healthier environments for a more livable environment.

While sustainable real estate developments may have slightly higher upfront costs, they offer long-term financial benefits. Energy-efficient designs and sustainable technologies can significantly reduce utility expenses making them more cost-effective over time. Additionally, various government incentives and programs are available and becoming more frequent to support sustainable building initiatives, which can offset initial expenses. Sustainable real estate development practices, such as Mass Timber, can also allow for a quicker construction period. People are becoming more environmentally conscious and are actively seeking properties that align with their values. 

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Flexible minimums