MILWAUKEE | 700 E Kilbourn | ~415 FT | 37 FLOORS

[Steely Dan]

a forumer at SSC who claims to have insider knowledge says that this project is dead.

however, it's just a post from an anonymous person on the internet claiming insider knowledge, so grains of salt and all of that.

Originally Posted by needhair

Up until about a month ago Carroll Properties was still trying to get financing for the long proposed 700 East Kilbourn, I am disappointed to say it is not going to be happening nor is anything else soon going to be happening on that site. With The Couture almost now a sure thing to be happening and with some other well established developers in Milwaukee soon to be announcing some other high end residential developments the squeeze was put on not to let Carroll Properties get their financing. Unfortunately sometimes for new blood to make a mark in Milwaukee the established guys in town have all the clout, this is the case with The 700 East.

[Steely Dan]

other bad signs for this project:

- the renderings and project page have been removed from the architect's website.

- yesterday news leaked out about a potential new 35 story residential tower being developed by NML that dovetails a little too conveniently with needhair's insider info.



unfortunately, it's beginning to look like this one is DOA.

but at least we can look forward to hopefully learning more about the 35 story NML residential project.

[Steely Dan]

it looks like i might have dead-filed this one a bit prematurely.

the developer claims he's still actively trying to find financing, so.....

Chicago developer still seeking investors for downtown Milwaukee apartment tower

http://www.bizjournals.com/milwaukee...stors-for.html

Chicago developer Bob King said he is still hoping to build a planned $75 million, 37-story apartment tower in downtown Milwaukee, but said large institutional investors that would finance the project have not yet shown much interest in the project.

“I haven’t given up on it yet,” King, president of Carroll Properties, told the Milwaukee Business Journal.

“I’m still excited about Milwaukee and I still think it’s a great plan,” Carroll said. “It’s a $75 million project, so I have to get other people to like it as much as I do.”

Milwaukee’s downtown has been rapidly growing in the past several years, and has attracted more interest from developers from Chicago and beyond. Nonetheless, it is not a top-tier city like Chicago or New York where it is easier to attract financing from national investors who put money into projects across the country.

[Steely Dan]

unfortunately, this proposal is no more.

Chicago firm apparently drops downtown apartment tower proposal
7:00 a.m.
By Tom Daykin of the Journal Sentinel

It's been nearly 18 months since the Common Council approved plans for a luxury apartment high-rise on downtown Milwaukee's east side.

But work has yet to occur at the development site, a former Edwardo's Pizza restaurant, 700 E. Kilbourn Ave.

Department of City Development officials haven't been in contact with the developer, Chicago-based Carroll Properties, "in quite a while," said Jeff Fleming, department spokesman.

Carroll Properties President Robert King couldn't be reached for comment.

But site owner Tim Gokhman, of New Land Enterprises LLP, said Carroll's purchase option has expired.

source: http://www.jsonline.com/blogs/business/373754951.html