Still No Deal For The Couture. Yet
Sorry, Mark Belling, deal still isn't quite done, says developer.
Not quite, says Barrett.
“We are hard at work to complete the last piece of financing to make this iconic, transformative building a reality,” wrote the developer in a request for comment from Urban Milwaukee. “We continue to make good progress, but have nothing new to share at this time.”
Barrett, when he has funding in hand, will also need to submit a “firm commitment” for a loan guarantee from the U.S. Department of Housing and Urban Development. He was first invited to do so in November 2018. The department, through spokesperson Gina Rodriguez, said that has yet to happen. “On our end we have nothing new to report,” said Rodriguez. She noted that the department has had continued discussions with Barrett’s team.
Completing the financing package and starting construction on the 322-unit luxury apartment tower would solve another problem: the delayed extension of The Hop to the lakefront. City officials have spent much time publicly, and privately, debating what to do with the line’s eastern terminus planned to go through the tower’s base.
The tower is being designed by architecture firm RINKA. J.H. Findorff & Son is slated to serve as the general contractor and oversaw the demolition of the Downtown Transit Center on the two-acre project site.
EXCLUSIVE: Finally! Financing finally complete for Couture. Developer Rick Barrett gets $31 million today in deal underwritten by Baird. @MarkBellingShow
— Mark Belling (@MarkBellingShow) December 11, 2019
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More about the Couture
- Eyes on Milwaukee: Still No Deal For The Couture. Yet - Jeramey Jannene - Dec 11th, 2019
- Plats and Parcels: NBA Player Plans Downtown Apartments - Jeramey Jannene - Oct 13th, 2019
- Transportation: Couture Streetcar Extension Decision Pushed to June 2020 - Jeramey Jannene - Oct 2nd, 2019
- Transportation: City Struggles on Couture Streetcar Extension - Jeramey Jannene - Sep 12th, 2019
- MKE County: Supervisors Question Couture Project - Graham Kilmer - Sep 11th, 2019
- Plats and Parcels: The Couture Getting New Signage - Jeramey Jannene - Aug 25th, 2019
- Plats and Parcels: The Couture Changes Financing Plan - Jeramey Jannene - Jul 28th, 2019
- Transportation: City Confident Couture Won’t Block Streetcar - Jeramey Jannene - Jun 5th, 2019
- Plats and Parcels: The Couture Gets Financing Extension - Graham Kilmer - May 27th, 2019
- Plats and Parcels: The Couture Gets Financing Extension - Graham Kilmer - Mar 10th, 2019
- MKE County: County Committee Mollified on Couture - Graham Kilmer - Dec 4th, 2018
- Eyes on Milwaukee: The Couture Cleared for Takeoff - Jeramey Jannene - Nov 2nd, 2018
- Plats and Parcels: The Couture Still in Limbo - Graham Kilmer - Oct 21st, 2018
- Plats and Parcels: County Officials Suggest Taking Back Couture Site - Graham Kilmer - Sep 16th, 2018
- Eyes on Milwaukee: Multiple Tower Groundbreakings in 2018 - Jeramey Jannene - Apr 11th, 2018
- Eyes on Milwaukee: Couture Seeks Commercial Tenants - Jeramey Jannene - Dec 4th, 2017
- Eyes on Milwaukee: Council Okays Couture Sewer Subsidy - Jeramey Jannene - May 31st, 2017
- Eyes on Milwaukee: Couture’s Surprise Sewer Being Moved - Jeramey Jannene - May 23rd, 2017
- Eyes on Milwaukee: City Approves The Couture - Jeramey Jannene - Apr 18th, 2017
- Changes Made to Couture’s Design - Graham Kilmer - Apr 10th, 2017
- Eyes on Milwaukee: Second Lakefront Tower Coming? - Jeramey Jannene - Mar 3rd, 2017
- Photo Gallery: Transit Center Tower Demolition - Jeramey Jannene - Jan 8th, 2017
- Friday Photos: Goodbye Downtown Transit Center - Jeramey Jannene - Dec 30th, 2016
- Eyes on Milwaukee: The Couture is Finally Happening - Jeramey Jannene - Aug 11th, 2016
- New Front Door for Lakefront - Jeramey Jannene - Mar 11th, 2013
- County Threatened With Lakefront Lawsuit - Dave Reid - Jul 24th, 2012
- Photo Gallery: The Couture Press Conference - Jeramey Jannene - Jul 16th, 2012
- The Chatter: Abele vs County Board — Again - Bruce Murphy - Jul 12th, 2012
- 44-Floor Tower Proposed for Lakefront - Jeramey Jannene - Jul 11th, 2012