INVESTOR BUYING PARTLY COMPLETED STAYBRIDGE HOTEL
An investor that owns the loan used to finance downtown Milwaukee's partly completed Staybridge Suites building has agreed to buy the property for $12.4 million. 2010-1 SFG Venture, an affiliate of the Federal Deposit Insurance Corp. and New York-based Square Mile Capital Management LLC, submitted that high bid Thursday night at a court-ordered auction
US CONSTRUCTION SPENDING UP 0.3 PERCENT IN APRIL
U.S. builders increased their spending on construction projects for a second month in April. A pickup in home construction and commercial projects offset a fifth consecutive decline in government spending. Construction spending rose 0.3 percent in April, matching an upwardly revised 0.3 percent March gain.
FORMER ESSER PAINT, TOWER SITES GET CLEANUP GRANTS
The former Esser Paint site and Tower Automotive complex, both on Milwaukee's north side, will be getting additional federal grants to continue environmental cleanup work on those properties. The city Redevelopment Authority received a $200,000 grant, from the U.S. Environmental Protection Agency, to help pay for cleaning up hazardous substances.
DELAFIELD DEBATES DEVELOPMENT TAX INCENTIVES
A plan to provide real estate tax financing for public improvements in a proposed downtown residential development ran into stiff opposition tonight although it was approved by the Plan Commission on a 4 to 3 vote.
PLAN COMMISION ADVANCES ZONING CHANGES FOR NORTH AVE.
A zoning change that would encourage the development of taller commercial buildings along E. North Ave. was recommended for approval Wednesday by the Milwaukee Plan Commission. The commission unanimously endorsed the proposal after it was changed in response to concerns from homeowners who live just a few blocks north of the avenue.
FORECLOSURE SUIT TARGETS PROPOSED OAK CREEK HOTEL SITE | SUIT ALLEGES DEVELOPER HAS DEFAULTED ON LOANS
An Oak Creek site near Mitchell International Airport, where a Chicago-area developer has proposed a Sheraton Four Points hotel, is the target of a foreclosure suit. A site near Mitchell International Airport, where a Chicago-area developer has proposed a Sheraton Four Points hotel, is the target of a foreclosure suit.
SUSSEX OFFICIALS NEGOTIATING FARM SALE | VILLAGE WANTS TO BUY MEISSNER LAND FOR DEVELOPMENT
Village of Sussex - Village officials have apparently been in secret negotiations with a private developer over the possible purchase from Johnson Bank of about 120 acres of farmland on the west edge of the village near Highway 164 and Silver Spring Road (Highway VV).
SKILLED TRADES AMONG HARDEST JOBS TO FILL | 49% OF U.S. EMPLOYERS HAVE TROUBLE FILLING KEY POSTS, MANPOWER STUDY SAYS
A persistent dilemma of the Midwest industrial economy resurfaced in a new study by ManpowerGroup Inc. showing that skilled trades such as welders and electricians once again top the latest list of the most difficult-to-fill job openings.
CANADA ACTS TO PROTECT GREAT LAKES FROM ASIAN CARP | JOINT EFFORT WITH U.S. GETS $17.5 MILLION
Canada said Monday that it will devote $17.5 million to protecting the Great Lakes from Asian carp, including development of an early warning system with U.S. agencies so authorities can react quickly if the invasive species is detected.
After several boom years, the downtown Milwaukee condo market crashed as part of the U.S. housing bubble burst that was largely responsible for the Great Recession. Since then, condo development in downtown Milwaukee has been almost nonexistent.
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