Devon Patterson News Today

Rising interest rates and increased sales tax rate cited by Goll Mansion site developer.

Building will eventually rise 31 stories, but its already clearly visible

The zoning committee recommended approval for design changes to the 24-story, 192-unit apartment tower, planned for 1550 N. Prospect Ave.

Groundbreakings don’t typically take place in December, at least not in Milwaukee, but executives from Houston-based Hines, contractors, and city officials, didn’t want the year to end without celebrating the start of the firm’s 31-story Third Ward apartment tower.

The 25-story, 192-unit apartment tower, planned for 1550 N. Prospect Ave., would be shorter. But maybe the more noticeable change is its slimmer look.

After hitting pause three years ago on plans to build an apartment tower behind the Goll Mansion at 1550 N. Prospect Ave. on Milwaukee's East Side, Madison-based development firm Willow Partners is about to reboot the project, this time with plans they think will make for a better a building, as well as happier neighbors.

Houston-based developer Hines has officially purchased the small parking lot along the Milwaukee River where it plans to construct a 31-story apartment tower.

Houston-based Hines Development is on track to receive $903,000 in tax incremental finance assistance for a 210-linear foot Riverwalk connection project it hopes to construct as part of its 31-story apartment tower planned for a site a 333 N. Water Street.

Plus: A recap of the weeks real estate news.

The development team behind a proposed 32-story apartment tower in Milwaukee's Historic Third Ward say their project will enhance the public RiverWalk.