Blue Ribbon Management Plans June Start for 73 KSF Office Building at the Brewery
Blue Ribbon Management L.L.C. is proposing to break ground in June on a 73,100-square-foot office building at the former Pabst brewery complex near Downtown Milwaukee. JSOnline, an online service of the Milwaukee Journal Sentinel, reports that the company will also manage the building on behalf of its owner, Blue Ribbon Redevelopment Fund III L.L.C. of Chicago.
Estimated to cost $10 million to $12 million, Pabst Business Center (pictured above) is scheduled for completion by the end of 2014. The five-story structure will rise on a vacant site at the North 11th Street and West Juneau Avenue. Plans call for 42,000 square feet of leasable office space on three floors, plus a two-level, 68-space parking garage.
Rinka Chung Architecture Inc. of Milwaukee is designing the building, which will feature dark brown bricks and wood details.
Oregon, Wis.-based Gorman & Co. will serve as the project’s construction manager. Elsewhere at the Brewery, Gorman redeveloped the former brew house and mill house as Brew House Inn & Suites, an extended-stay hotel scheduled to open this month.
Both Pabst Business Center and Brew House Inn & Suites are being funded through the federal EB-5 program, which offers residency to foreign investors and their families in exchange for financing job-creating projects in the United States.
Also on Blue Ribbon’s drawing board is the conversion of the former Pabst bottling house between N. 9th and N. 10th streets into apartments for foreign students. The two-story, 255,000-square-foot building’s footprint would cover more than half a block, making it the largest at the Pabst complex.
The 20-acre Pabst redevelopment district is one of the greenest neighborhoods in the world. The site, which includes apartments, offices, university facilities and a hotel, was recently awarded LEED Platinum designation from the U.S. Green Building Council.
Rendering of Pabst Business Center: Rinka Chung Architecture Inc.Tags: Development, Green, Policy, property management