US-based Michels Corporation has announced a $100m investment in Milwaukee’s Harbor District to transform a six-acre site into a mixed-use development.
The new development, RIVER 1, will be located at the corner of Becher and 1st streets and the site is at the gateway into the Harbor District, Walker’s Point and Bay View neighbourhoods of Milwaukee.
The site is bordered on two sides by the Kinnickinnic River.
The phased project will commence in 2018 with the construction of an eight-storey office building at the river bend, which will be anchored by Michels, as well as the covered parking and a mixed-use development along the length of 1st Street.
This will include apartments, retail, restaurant on the river, hotel and more than 1,000ft of riverwalk.
The first phase of the project is expected to be completed in 2020 and additional phases, which will include two more office buildings on the site, will be built concurrently, based on market response.
The entire campus will include 220,000ft² of office space, 67 units of multi-family housing, 19,000ft² of retail, a 103-room hotel, and nearly 1,000 underground parking spaces.
Vice president Tim Michels said: “The Michels Family is proud to make this historic investment to continue to grow Wisconsin and Milwaukee. We would like to thank Mayor Barrett, Alderman Zielinski and all of the city staff that has worked hard with us to make this incredible project a reality.”
The City of Milwaukee plans to invest in more than 1,000ft of publicly accessible Riverwalk, improve streetscaping in the Becher Street corridor and assist in environmental remediation of the publicly accessible portions of the site.
The campus will be a waterfront development situated seven minutes from Downtown Milwaukee’s central business district, less than 10 minutes from the airport and only seconds from I-94.
The RIVER 1 project team includes Michels and local Milwaukee business partners Rinka Chung Architecture, Wired Properties, the Barry Company and Nation Consulting.
Image: Michels to build $100m mixed-use scheme in Milwaukee Harbor District. Photo: Courtesy of Michels© Corporation.