[Urbannizer]

Couture construction may start soon after 'milestone' federal financing approval

A federal financing approval announced Friday means the planned 44-story Couture apartment tower may soon start construction in downtown Milwaukee after being stalled for about a year.

Barrett Lo Visionary Development has been awaiting a response for almost a year from the U.S. Department of Housing and Urban Development for a major piece of the $122 million project’s financing package. The federal agency recently completed its review of Barrett Lo Visionary’s application, which company leader Rick Barrett said is a “major milestone for The Couture that enables us to move forward with the final stage of financing.”

The HUD funding would guarantee a private-sector loan for the project. Barrett recently was invited to formally submit final applications to lock in that loan guarantee. Barrett said the schedule ahead for construction is still being determined.

"This was a monumental step, and we're starting to work on the timeframe now," he said.