here's some exciting news about a potential new skyscraper for brew city. scroll down for the renderings.
From the
Business Journal:
Lake Pointe taking shape
BY PETE MILLARD
The proposed $207 million Lake Pointe Tower has secured one anchor tenant and is in negotiations with Robert W. Baird & Co. Inc. to become the second major tenant in the 43-story building that would be built in downtown Milwaukee.
The two anchor tenants are crucial to moving forward with the much-talked about office tower that would be just south of the U.S. Bank Tower, 777 E. Wisconsin Ave. The structure is currently the tallest building in Milwaukee at 42 floors.
The building would be developed by JBK Properties Inc., Milwaukee, at the intersection of East Michigan and North Cass streets.
U.S. Bank is committed to occupying two floors in the proposed building. said Bill Bertha, president of U.S. Bank Wisconsin. U.S. Bank is a partner in the development of Lake Pointe. The bank currently occupies about 300,000 square feet in the U.S. Bank Tower, which is also owned by the bank. In addition, the bank has leased office space in the 811 E. Wisconsin building and the Lewis Center, 606 E. Wisconsin Ave.
Baird, a Milwaukee brokerage and investment firm, is considering relocating part of it's downtown operations from the U.S. Bank Tower to Lake Pointe. Baird is negotiating with U.S. Bank on renewing it's lease that expires in 2009 for 250,000 square feet on 10 floors of the 33 year old U.S. Bank Tower, said Joe Ullrich, a bank vice president involved in the negotiations.
"Baird is looking for a number of possibilities", he said.
John Rumpf, a Baird spokesman, said the company will complete a needs assessment and make a decision this fall on its office space.
Westin Deal
Lake Pointe Tower has also secured a commitment from Starwood Hotels & Resorts Worldwide, Inc., Whiteplains, N.Y., to open a 214-room Westin Milwaukee Hotel in the building said Ullrich. In addition, Lake Pointe would include retail shops, and 34 condominiums on the top 14 floors.
Ted Matkon, a vice president for JBK Properties, declined to comment on the tower's tenants or design.
The Lake Pointe Tower would replace a parking structure owned by U.S. Bank. The building would become a prominent gateway to downtown Milwaukee, Bertha said. "Our skyline could use a boost". he said.
The proposed building's architecture would enhance the image of the city's skyline and fit well with other buildings along Milwaukee's lakefront, said Jim Barry III, president of Collier Barry, a Milwaukee real estate brokerage and development firm.
The building's design, which is not yet completed, will compliment the Santiago Calatrava-designed addition to the Milwaukee Art Museum and the Discovery World at Pier Wisconsin, said Bertha.
As part of the plan for Lake Pointe, the city of Milwaukee is planning to upgrade East Michigan Street with a promenade from the lakefront west to North Water St. Pedestrian-friendly landscaping and additional parking will be added around East Michigan Street, said Bertha.
The office portion and retail shops of the building would occupy the majority of the bottom 12 - 15 floors of the building with the hotel taking up the next rung of floors.
The best views in the high-rise building will be reserved for condos at the top. The condos would be sold unfinished, allowing owners to design their own space. The condos would sell for up to $425 per square foot.
MILWAUKEE | Lake Pointe Tower | 43 floors | NEVER BUILT
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