Graham Kilmer
Plats and Parcels

Ikon Hotel Deal Gets First Approval

Plus: A Waukesha jail is now an apartment building.

By - Apr 14th, 2019 09:33 pm
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Ikon Hotel. Rendering by Engberg Anderson Architects.

Ikon Hotel. Rendering by Engberg Anderson Architects.

Developer Kalan Haywood‘s proposed 80-room hotel for the former Sears department store at 2100 W. North Ave. received its first approval.

The board of the Redevelopment Authority of the City of Milwaukee voted to support creating a tax-incremental financing district for the project. A $4 million loan would support preliminary work on the project and provide Haywood with capital to pay off a loan from another city-affiliated entity, the Milwaukee Economic Development Corporation, that was used to purchase the building.

The multi-phase project would include a conference center and rooftop restaurant. Apartments and a tech hub are planned for future phases. For more on the project, see my colleague Jeramey Jannene‘s coverage of the project’s announcement.

The financing package, which is intended to be the first of two according to Department of City Development Commissioner Rocky Marcoux, will next go before the Common Council.

Renderings

Photos

Jail Becomes Apartments in Waukesha

The Martin Street Apartments in Waukesha were once a jail. And with that comes stories.

The 30-unit, $7 million apartment building recently opened to residents. It offers tenants such perks as: getting to live in a room once inhabited by a murderer, Tom Daykin reported in the Milwaukee Journal-Sentinel. Kidding aside, the project follows a trend of suburban developers leveraging historic preservation tax credits to kickstart downtown development.

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