(Source: Tom Daykin Milwaukee Journal Sentinel (MCT)– A proposed apartment high-rise, one of several ideas pitched for a downtown site overlooking Lake Michigan, is getting support from local construction unions.
Developer Rick Barrett was among those responding to Milwaukee County’s request for interest from developers for the county-owned site, now used as the Downtown Transit Center, 909 E. Michigan St.
Barrett’s proposed high-rise – the details of which haven’t been divulged by county officials – won support Monday from Lyle Balistreri, president of Milwaukee Building and Construction Trades Council, AFL-CIO. He spoke to members of the County Board’s Committee on Economic and Community Development.
Barrett is developing the 30-story Moderne, with 203 apartments and 14 condos, at W. Juneau Ave. and N. Old World 3rd St. Along with $9.3 million in city loans, the $55 million Moderne is being financed mainly by a $41.4 million loan from the AFL-CIO’s Housing Investment Trust, backed by a federal guarantee.
Balistreri praised Barrett for employing union workers on the Moderne project. He also said construction unions would help raise private financing for Barrett’s proposed lakefront development.
“We not only want jobs, we put our money where our mouth is,” Balistreri said.
Barrett attended the meeting but declined to talk about his proposal. The committee voted to have Barrett and the other developers who’ve pitched plans for the site to present their ideas in a closed session at the committee’s July 16 meeting.
Under the state open meetings law, those presentations can be conducted in closed session because they involve real estate negotiations and proprietary business information. However, any committee vote to recommend a specific proposal must be done in public.
Demolishing the underused transit center and offering the land for sale were among several recommendations made last year for redeveloping the area around O’Donnell Park.
The committee’s ideas include reworking freeway ramps tied to the Hoan Bridge and I-794 to free up more land for future development.
———
©2012 the Milwaukee Journal Sentinel
Visit the Milwaukee Journal Sentinel at www.jsonline.com
Distributed by MCT Information Services
Source: Tom Daykin Milwaukee Journal Sentinel (MCT)
