Thursday, November 13, 2008

The Business Journal of Milwaukee: City: Work begins on Aloft Hotel

Breaking news! A Park East development will soon be breaking ground. This is according to The Business Journal of Milwaukee and officials from the City of Milwaukee on Wednesday, November 12.

The $27 million, five-story Aloft Hotel, a Starwood Hotels and Resorts Worldwide Inc. brand, developed by partnership Milwaukee River Hotel LLC, will soon be constructed along the Milwaukee River just north of East Juneau Avenue.

According to city officials the developer is in the process of preparing the site for construction. Milwaukee River Hotel LLC expects Aloft will open in November 2009. In addition to a hotel, the developer also plans to construct a river walk segment, public plaza, and provide street improvements.

Aloft is being funded by several sources including the City of Milwaukee, U.S. Bank, Wisconsin Department of Commerce, and the Wisconsin Housing and Economic Development Authority. In return, the project is expected to create approximately 75 permanent jobs.

Finally, some good news for the Park East. The writers of The Business Journal of Milwaukee provides more details regarding Wednesday’s announcement. Click here to read more about Aloft and its impact on our local economy>>>

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posted by David Ray @ 10:15 AM

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