Posted Dec 29, 2015, 5:24 PM
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devout Pizzatarian
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Join Date: Jul 2001
Location: Lincoln Square, Chicago
Posts: 29,825
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update from JS:
Quote:
Couture site sale delayed until early 2016; groundbreaking still set for next year
By Tom Daykin of the Journal Sentinel
Developer Rick Barrett won't complete his firm's planned purchase of the Couture high-rise development site by the end of the year, according to a Milwaukee County official.
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The sale of the county-owned property is now expected to occur by the end of March, said Teig Whaley-Smith, county administration director.
The sale has been delayed in part because the county is seeking a final agreement from federal officials to avoid paying the difference between the property's appraised value and its discounted sale price. That agreement is tied to a 1988 Federal Transit Administration grant that helped financed the underused transit center.
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Rick Barrett hopes to finish razing the transit center by spring before Summerfest and other events begin at nearby Maier Festival Park. He wants to begin construction by fall on the 44-story apartment tower, which would take three years to complete.
"We're pleased with the progress," Barrett said in a statement, "and optimistic that we can remain on schedule for groundbreaking before the end of 2016."
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source: http://www.jsonline.com/blogs/business/363647311.html
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