A ceremonial toast will be held today to celebrate the start of construction for the redevelopment of the 106-year-old Posner Building at the northwest corner of Wisconsin and Plankinton avenues in downtown Milwaukee.
HKS Holdings LLC plans to convert the building into 105 apartments with ground floor retail space.
The seven-story building, located at 152 W. Wisconsin Ave., is best known as the home for the downtown location for Mo’s Irish Pub, which will remain there. But the upper floors have been vacant for years.
The Wisconsin Housing and Economic Development Authority will provide $13.75 million in financing for the redevelopment project and the city of Milwaukee will provide up to $2.5 million in tax incremental financing. The overall cost of the project is estimated to be between $20 million and $25 million.
HKS recently bought the building for $3.4 million from an affiliate of Mo’s Restaurants.
KBS Construction is the project’s contractor and Engberg Anderson is the architect.