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Streetcar Flats in the News

The Underwriters Exchange Building, an aging downtown office building frequently overlooked, is transforming into a 75-unit market-rate apartment complex. The nine-story building, Streetcar Flats, is situated just north of E. Wells St. and the City Hall southbound stop on The Hop. To attract tenants, developer Paul Dincin has renamed the building, highlighting its proximity to the streetcar as a potential draw.

“It’s close to everything,” said Dincin in a 2020 interview, ticking off a list that included Cathedral Square Park, the Milwaukee School of Engineering campus, Milwaukee City Hall, and BMO Tower.

The Colby Abbot Building, located just one block from the Urban Milwaukee office, is currently undergoing repair or replacements of its wooden windows. The publication’s staff has been observing the progress of this work from their vantage point.
When Streetcar Flats is completed, future residents will have the bonus of enjoying the impressive view of the downtown skyline and a prominent voting rights mural on the side of the building.
The building will primarily consist of studio apartments initially planned to start at $1,100 in 2020, with the top two floors featuring larger, two-story units.
According to Dincin, who expressed his surprise, the views from the building are exceptional, including a picture of Lake Michigan. “Our concept is to keep the rents relatively small and attainable.”

“We have a beautiful lobby and nice amenities,” said Dincin. According to Dincin, the upcoming project will feature a lounge area with a pool table and a community room. The units will include standard amenities such as an in-unit washer and dryer, typically offered in new market-rate apartments throughout the city.
Chicago-based Built Form is responsible for the project’s design, while Peridot Construction Management is in charge of general contracting. The project involves gutting the old office space with outdated aesthetic features such as drop ceilings commonly found in 1980s buildings.

The top floor of the building has circular windows that resemble portholes on a ship. During pre-demolition work, the original windows were discovered behind layers of coverings. In addition, the demolition work uncovered various historical elements, including beautifully preserved crown molding on the first floor and terrazzo flooring.

Although the project was initially announced in 2018, like the streetcar extension, it faced delays. Nevertheless, substantial construction work is now in progress, and the project is expected to open before the fall of 2023, when The Hop’s lakefront line extension is planned to open.

According to state records, Dincin purchased the property for $1.25 million in 2018 through 850 W. Jackson LLC and Catapult 828 Broadway LLC. Dincin’s company, Catapult Real Estate Solutions, specializes in revitalizing distressed real estate properties. The building’s few remaining office tenants, who were not associated with the insurance professionals the building had previously targeted, have since moved to other locations.

Read the full article about the new apartment building near MSOE.

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About Streetcar Flats

Streetcar Flats is Downtown Milwaukee’s Newest apartment community located at 828 N Broadway. Streetcar Flats incorporates modern luxuries with the vintage charm of our hundred-year-old landmark building. What was once the Underwriter’s Exchange Building is now Streetcar Flats, your future home in Downtown Milwaukee, perfectly located along The Hop’s M-Line, Milwaukee’s new streetcar system. 

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Rental Criteria

One Adult – Gross income must meet or exceed 3 times the apartment rental rate. Roommates – The combined gross income must meet or exceed 3 times the apartment rental rate. If you are self-employed or retired, you must provide your most recent tax filing or consecutive bank statements from the past six (6) months to verify your income.

Your credit score must meet or exceed six hundred fifty (650). You will automatically be denied rental if any monies are owed to a previous landlord or management company. If you owned a home and it has been foreclosed upon, you will be denied rental. If you have been sued in an attempt to obtain a monetary judgment against you within the last five (5) years you will be denied rental. If you have a monetary judgment against you that is older than five (5) years you must have legally satisfied that judgment or you will be denied rental.

A verifiable history of apartment rental or mortgage payments. If there is no verifiable housing and you are a first-time renter, a Guarantor will be required, along with a security deposit of one (1) month’s rent. Any previous eviction judgment is an automatic basis for rejection of an application. Any negative reference from a prior landlord will cause you to be denied rental.

OCCUPANCY STANDARDS Maximum limits are as follows:

  • Studio: 2 individuals maximum
  • 1 Bedroom: 2 individuals maximum
  • 2 Bedroom: Not to exceed 4 individuals with no more than 3 unrelated adults
  • 3 Bedroom: Not to exceed 6 individuals with no more than 3 unrelated adults o
    • Children under the age of 2 are not included in the calculation


Should an applicant not qualify in terms of credit history, the applicant, at the discretion of the landlord, may have the lease guaranteed by another party. Guarantor(s) must meet or exceed the rental criteria as stated above.

Each Guarantor must provide sufficient income verification equal to three (3) times the amount of the rent to guarantee the apartment rental.

If applicant has been convicted of illegally manufacturing or distributing a controlled substance as defined in sec. 102 of the Controlled Substances Act (21 U.S.C. 802) their application will be denied.

If applicant is subject to a state lifetime sex offender registration program their application will be denied.

If applicant has not been otherwise disqualified based on the above factors, and the applicant has been convicted of a felony or released from custody or supervision for a felony conviction, whichever occurred later, within the last six years, or a misdemeanor within the last three years, and the crime shows a demonstrable risk to tenant safety and/or property, their application may be denied after consideration of the nature and severity of the crime, the applicant’s age at the time of the conduct, and the amount of time that has passed since the criminal conduct occurred. Other factors may be considered on a case by case basis. Applicant shall provide any mitigating information or documentation that he or she would like to be considered regarding any criminal convictions.

*If management is unable to verify any information on your rental application, including but not limited to your prior rental history and employment, you will be denied rental. If you misrepresent your application information, you will be denied rental.

Date Started Using: May 16, 2023