Sydney Hih Project Moves Forward
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The controversial Sydney Hih project , that last summer was turned down for city financing of a TIF, appears to moving forward again.
The first indications were the signing of multiple tenants to the project as recently reported in the Bizjournal article “Ruvin recruits Park East tenants”.
The second significant step forward occurred this morning when the Public Works Committee approved a resolution agreeing to a long term lease with Ruvin Development Inc.
of the city’s parking garage at 4th and Highland. This is important because Ruvin Development Inc.’s
attempts to receive a TIF district revolved around the project’s perceived parking needs, so this agreement should allow Ruvin Development Inc.
to move forward with the project. Additionally this will create a new revenue stream for the City of Milwaukee and better utilizes a city owned parking structure. I believe these two recent developments are very encouraging signs and that the Sydney Hih project may soon get underway.
To follow this development I’ve started a flickr set, Sydney Hih that I will update with new pictures to keep track of the progress. Please note currently there’s just one photo as no construction has begun.
Ruvin recruits Park East tenants
Plans on tap to rejuvenate Gipfel Brewery
Billion-dollar building boom
Gatehouse Capital and Ruvin Development select Kimpton for Milwaukee boutique hotel opening late 2009