A Wisconsin contractor has been awarded an $11.3 million default judgment to cover the costs of work done on a failed $230 million 32-story concrete-wood hybrid tower in downtown Milwaukee. Once planned as the tallest wooden building in North America, construction on The Edison was halted in September 2025, with the developer citing rising rate costs and inflation.
CD Smith Construction of Fond du Lac, Wis., received the default judgment June 29 in Milwaukee Circuit Court. It is a necessary step for the foreclosure to occur and the property to be sold.
The contractor filed a lawsuit in March against the developer, Neutral, seeking to foreclose and sell the unfinished skyscraper, citing unpaid construction costs and an estimated $25 million shortfall in project financing.
Neither CD Smith nor Neutral responded to requests for comment on the ruling.
When announced in 2024, the 378-unit Edison was expected to become the tallest all-wood building in North America, surpassing the 25-story Ascent in Milwaukee.
Neutral halted construction on The Edison in September 2025, citing the impacts of tariffs and inflation, and described the pause as temporary. Although the foundation had already been placed, the project’s tower crane and other equipment were removed in November 2025.
Concerns about Neutral’s performance at The Edison led Milwaukee officials in November 2025 to withdraw the company as the preferred developer for a planned $750 million redevelopment of the Marcus Performing Arts Center parking structure across the street. The proposal had called for up to 750 residential units, 190,000 square meters of offices, 300 hotel rooms, structured parking and public plazas.
CD Smith’s lawsuit also named 11 other contractors or vendors as defendants, a strategy typically aimed at protecting legal rights and settling who ultimately owes what, and can be used to bring those with a financial stake in a lawsuit instead of multiple separate cases.
Ald. Milwaukee’s Robert Bauman said he doesn’t anticipate a quick sale because “there are some legal time windows involved that would prevent [it].”
He said he assumes a new development will be residential.
“I’m sure it will happen eventually. It’s a good location,” he said.
