Couture: Milwaukee high-rise to break ground this week
By FOX6 News Digital Team
Published
Rendering of Couture project on Milwaukee s lakefront
MILWAUKEE - The long-awaited Couture building in downtown Milwaukee will break ground on Wednesday, May 5 after securing a loan for the project on Friday, April 30.
Barrett Lo Visionary Development and the U.S. Department of Housing and Urban Development (HUD) closed on insuring a $104.7 million loan for the Couture We are thrilled to have closed on the site and to enable the Findorff team to begin construction work for the Couture, a transformational project for our community, said Rick Barrett, founder and CEO of Barrett Lo Visionary Development. I want to thank the Department of Housing and Urban Development, the City of Milwaukee, Milwaukee County, and all of the partners who have worked so hard alongside us to ensure that this important project has been able to move forward.
Below-grade improvements will begin at 909 E. Michigan St., Barrett Lo Visionary Development LLC announced Monday.
The timetable calls for a structure to be rising by early 2022, with completion anticipated by fall 2023, the firm said.
The closing on the development s main financing source, a $104.7 million construction loan guaranteed by the U.S. Department of Housing and Urban Development, occurred Friday, according to department spokeswoman Gina Rodriguez. This is the largest (Federal Housing Administration) loan amount HUD has executed in the state of Wisconsin and the largest amount for HUD’s Midwest region since the year 2000, Rodriguez said.
“We are thrilled to have closed on the site and to enable the Findorff team to begin construction work for the Couture, a transformational project for our community,” said Rick Barrett, founder and chief executive officer of Barrett Lo Visionary Development.
Construction set to begin on Milwaukee s Couture apartment tower May 5
MILWAUKEE (CBS 58) After nine years of debate and delay, construction is slated to begin on Milwaukee s 44-story Couture apartment tower this Wednesday, May 5.
The U.S. Department of Housing and Urban Development (HUD) and Barrett Lo Visionary Development closed on insuring a $104.7 million loan for the tower on Friday, according to a press release, representing the largest FHA loan that HUD has ever executed in the state of Wisconsin.
The release says the Couture will provide an estimated 4,400 construction jobs, and once completed, around 200 permanent jobs.
Its design includes a multimodal transportation hub with pedestrian walkways and bridges, public plazas and parks, the county s Bus Rapid Transit line, bikes and the streetcar, and replaces an underused transit center that has since been demolished.
HUD closes on financing for $188M Couture project, construction to start this week (UPDATE)
Milwaukee’s Couture high-rise, a now-vacant piece of land on the lakefront, took a step closer to getting shovels in the ground with the announcement that federal officials on Friday closed on a $104.7 million loan. (Aerial photo by Kevin Harnack)
Federal officials on Friday closed on a $104.7 million loan to support downtown Milwaukee’s Couture high-rise, a step that could pave the way for construction to start on the tower after years of planning and delays.
The U.S. Department of Housing and Urban Development is providing both a construction loan and federal guarantee for the $188 million project Friday, according to an announcement from the agency Monday. Since 2012, Milwaukee firm Barrett Lo Visionary Development has been planning the 44-story, 322-unit tower at the southwest corner of East Michigan Street and Lincoln Memorial Drive.
After years of delays, financing secured for complicated project to build 44-story lakefront tower. By Jeramey Jannene - May 3rd, 2021 01:18 pm //end headline wrapper ?>The Couture. Rendering by RINKA.
Construction on Milwaukee’s most anticipated real estate development will begin May 5th.
Barrett Lo Visionary Development closed Friday on a $104.7 million loan to support the development of The Couture. The approximately $190 million, 44-story tower will include 322 apartments and 40,000 square feet of commercial space.
The loan comes from Old National Bank. The U.S. Department of Housing and Urban Development is providing a guarantee on the loan.
“This is the largest FHA loan amount HUD has executed in the state of Wisconsin and the largest amount for HUD’s Midwest region since the year 2000,” said HUD spokesperson