Milwaukee mass timber project, billed as nation’s tallest, reportedly faces foreclosure

Dive Brief:

The future of a Milwaukee high-rise once billed as “the tallest mass timber building in America” is in doubt after the general contractor sued the developer’s affiliates on March 6 for allegedly owing $11.3 million, the Milwaukee Journal Sentinel reported.
Fond du Lac, Wisconsin-based C.D. Smith Construction seeks the foreclosure sale of the parcel at 1005 N. Edison St. Madison, Wisconsin-based developer Neutral stopped construction of the 31-story, 357-unit apartment building in September, according to the newspaper. The contractor is suing Neutral affiliates The Edison SPE and The Edison Project LLC.
In October, a city official told the Milwaukee Journal Sentinel that the project faced a $25 million funding gap. The suit names 11 other firms that have filed for unpaid bills connected to the development, including Chicago-based Hartshorne Plunkard Architecture. Neither C.D. Smith Construction nor Neutral replied to Multifamily Dive’s request for comment.

Dive Insight:

After Neutral broke ground on The Edison in June 2025, the mixed-use project received significant hype as the tallest mass-timber building in the United States.

However, Neutral paused work on the project in September as a temporary measure to reduce costs and optimize the budget amid tariff and inflation pressures, according to the Milwaukee Journal Sentinel.

In November, C.D. Smith removed the site’s construction crane and filed a lien in Milwaukee County Circuit Court, claiming it was owed $10.1 million, the outlet reported.

If foreclosure is granted, C.D. Smith could take ownership of the parcel and sell it to another developer, according to the newspaper. The outlet also reported that the property has an overdue property tax bill exceeding $43,000.

The impact of tariffs may have played a role. The National Association of Home Builders reported that the U.S. imports one-third of the lumber it consumes, according to the National Association of Home Builders. Eighty-five percent of that product comes from Canada.

Last August, just before Neutral halted construction, the U.S. Commerce Department more than doubled its duties on Canadian lumber from 6.74% to 14.63%. As a result of that action, countervailing and anti-dumping duties on Canadian lumber jumped from 14.5% to 35%, according to the NAHB.

Still, it’s hard to know if tariffs were the only issue that halted construction. Before the Edison project, Neutral had successfully developed multifamily projects. In Madison, Wisconsin, for example, the firm built the 206-unit Bakers Place project. Each apartment features exposed mass timber, a controlled microclimate and designer interiors.

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