Northwestern Mutual Unveils $450M Downtown Milwaukee Headquarters
Northwestern Mutual has unveiled details of its proposed 1.1-million-square-foot headquarters tower and public space in downtown Milwaukee.
Hines will serve as development manager for the $450 million project, which will replace the financial services company’s current headquarters at 800 E. Wisconsin Ave. That building is slated for demolition because of structural problems.
Plans call for a 32-story tower designed by New Haven, Conn.-based Pickard Chilton, nearly three acres of public green space, and as an adjoining structure dubbed Northwestern Mutual Commons. The three-story facility will be open to the public and feature a visitors’ center, café and outdoor dining.
Construction is expected to begin in 2014 and be complete by 2017. Northwestern Mutual’s new home will be a candidate for LEED certification.
“Inside and out, Northwestern Mutual Tower and Commons reflects our belief in the city that we have called home for almost our entire history,” said John E. Schlifske, Northwestern Mutual’s chairman & CEO, in a statement.
Northwestern Mutual Tower will preserve 1,100 downtown jobs, while accommodating another 1,900 employees by 2030. The city is providing $54 million in tax incremental financing.
“It has been a tremendous experience to collaborate with Northwestern Mutual and the design team to realize this new landmark on the lakefront – not only providing a new downtown presence for Northwestern Mutual, but for Milwaukee as well,” said Hines Senior Managing Director Tom D’Arcy. “The Commons will be a new vibrant pedestrian destination where employees and the community can enjoy the new Gardens and connect to the city’s lakefront.”
Rendering: Northwestern Mutual/Pickard ChiltonTags: Commercial, Consumer, Developers, Development, economy, Finance/Investment, Green, Hines, Investors, Local, Managers, Milwaukee Lead Story, Milwaukee office, Milwaukee TIF, Northwestern Mutual, Northwestern Mutual Commons, Northwestern Mutual Tower, Office, Owners, Pickard Chilton, Policy, Professional, property management