Korb Architecture Bets On Its People With Employee Ownership Plan
Milwaukee architecture firm adopts ESOP structure while expanding its mass timber portfolio across the U.S.
Kilbourn Avenue, with Ascent (left). Photo by Jeramey Jannene.
Korb Architecture, the Milwaukee firm behind the record-setting Ascent apartment tower and the proposed Zenith condominium high-rise, is now employee-owned.
The architecture and interior design firm announced Tuesday that it has transitioned to 100% employee ownership through an employee stock ownership plan, or ESOP. The change comes as the company prepares to celebrate its 20th anniversary later this year.
As a result of the ESOP conversion, founder Jason Korb has also been promoted from president to chief executive officer, while Kathleen Laird was promoted from vice president to president.
“Over the past 20 years, Korb has grown because of the talent, curiosity and commitment of our team,” said Korb in a statement. “Becoming employee-owned recognizes the essential role our people play in the firm’s success and gives them a meaningful stake in what we build together.”
Under an ESOP structure, employees receive an ownership interest in the company, allowing them to benefit financially from future growth.
“This transition preserves Korb’s mission, strengthens continuity for clients and creates new opportunities for employees to benefit from the value they help generate,” said Laird. “Clients will continue working with the same team and can expect our established focus on collaboration, creative problem-solving and environmental responsibility.”
The firm’s best-known project is Ascent, a 25-story luxury apartment tower at 700 E. Kilbourn Ave. Developed by New Land Enterprises, the 284-foot-tall building became the world’s tallest hybrid mass timber structure when it was completed in 2022.
The building includes a six-story concrete base topped by 19 stories built largely with engineered wood. Its unusual construction required an extensive testing and approval process before construction could proceed.
Korb is again working with New Land on another 25-story tower just a block away.
The architecture firm designed Zenith, a proposed 226-unit condominium tower planned for the southeast corner of E. Kilbourn Avenue and N. Van Buren Street.
The project received its first public endorsement Monday when the City Plan Commission unanimously recommended approval of the necessary zoning change.
Zenith would add to a long-running relationship between Korb and New Land, with the architecture firm having designed several of the developer’s Milwaukee projects.
The employee-ownership announcement also marks another chapter in the evolution of Korb’s firm.
Korb and architect Jeff Tredo founded Korb Tredo Architects in 2006. The two, who met while studying at the UW-Milwaukee School of Architecture and Urban Planning, operated the company together until 2015.
Tredo left that year with several employees and clients to join RINKA, while Korb became sole owner of the existing company. The firm subsequently operated as Korb + Associates Architects and is now branded as Korb Architecture.
Today, Korb works on housing, education, civic, corporate and hospitality projects, while also developing a specialty in mass timber construction. Korb said the company currently has several additional tall mass timber projects in design around the United States.
“As designers, we think carefully about what will endure,” Korb said. “Employee ownership protects what makes our firm distinctive while positioning the next generation to lead Korb into the future.”
Korb Architecture’s Milwaukee office is located on the second floor of the Enerpac Center.
The firm plans to commemorate its 20th anniversary in November with a series of events for employees and clients.
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