Friday, April 13, 2007

The Business Journal of Milwaukee: Billion-dollar building boom - More than a dozen projects proposed for downtown Milwaukee

Developers have proposed more than a dozen multimillion-dollar projects for downtown Milwaukee in recent months that could add nearly $1.2 billion in real estate value to the downtown market. The trend has shifted away from pure-residential to mixed-use developments. Mixed-use projects have been proposed to include thousands of square feet of retail and office space, hundreds of hotel rooms, and of course, condominium and apartment units. The downtown market is beginning to see a new wave of real estate development which indicates that commercial space is now beginning to follow the residential boom of the past decade. Retailers are now aware that the downtown market is a significant market place to tap into.


In The Numbers

Nearly 3,000 condominium units have been built in downtown Milwaukee during the past decade. City Hall has seen its tax base grow an additional $1.4 billion since the renaissance began which is generating more than $34 million in annual property taxes.


Here's The Latest...

* Brookfield Asset Management’s Chase Tower II - 29-story office and condo building; $100 million
* Development Opportunity Corporation’s Juneau and Water - Hotel, condos and first-floor retail; $33 million
* Ghazi's 401 W. Wisconsin - Mixed-use high- rise with condos, hotel and retail; $120 million
* Lighthouse Development's Transpak - Office and retail complex; $125 million
* Mandel Group’s Domus - 61-unit condo project; $40 million
* Mandel Group’s North End - Condos, apartments and street-level retail; $175 million
* RSC & Associates’ Park East Square -Luxury apartments, hotel, office and retail; $77 million
* Ruvin Development's Juneau Avenue and Fourth Street - Mixed-use project with condos, a hotel, retail and offices; $164 million
* Ruvin Development's Juneau and Milwaukee River project - 10-story office and hotel; $45 million
* Bob Schultz’s Riviana Complex - Condos, boutique hotel and retail; $100 million

Pete Millard, writer for The Business Journal of Milwaukee, writes more about the future of downtown Milwaukee's skyline>>>

Labels:

posted by David Ray @ 7:27 AM

0 Comments:

Post a Comment

<< Home