Proposed $40 million apartment building to transform Sheboygan's lakefront
Luxury apartments would be built on long-vacant land
SHEBOYGAN — A multi-million-dollar apartment building could be built on Sheboygan’s lakefront.
The five-story apartment building, dubbed the Malibu Apartments, would be constructed on South 7th Street near Clara Avenue. The land, known as Kite Beach, has been vacant since 2003 when Optenberg Iron Works closed the lakefront plant. The property is located across from the Sheboygan Paper Box Company.
According to plans submitted to the City of Sheboygan, the five-story building would have 215 apartment units and 3,758-square-feet of commercial restaurant space. Plans include a lakefront pool and a fitness center with lake views. Residents of the Malibu Apartments will have access to surf boards, paddle boards and kayaks according to Jacob Buswell, the developer.
Buswell is behind a controversial housing project in Oshkosh that received approval in 2023.1 He is also the owner of All American Do It Center, a home improvement store with three locations in Western Wisconsin. Buswell also owns several other rental properties throughout the state.
The City Plan Commission is scheduled to review the $40 million development during a meeting at City Hall on Tuesday, July 9th. Officials in the City’s Planning & Development Department have recommended approval of the plans. No word when construction would start but it’s possible a groundbreaking could occur before the end of this year.
Since the closure of Optenberg Iron Works, there have been two proposals to build housing on the site. The most recent proposal was in 2016 and called for a 90-unit apartment complex with a clubhouse and a pool facing the lake.2 Construction would have started in 2017 but never moved forward due to contaminated soil concerns.3
Sources
Sheboygan lakefront eyed for apartment development
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