Construction delays have pushed back the completion date for the Staybridge Suites hotel and Residences on Water project in downtown Milwaukee.
The project is now expected to be completed in March said John Economou, principal with Park Ridge, Ill.-based Economou Partners, which is the architect, engineer, general contractor and general partner for the development.
The 14-story building is being constructed at the southeast corner of Water Street and Juneau Avenue. The building will have a 123-room Staybridge Suites hotel, 31 residential condominiums and 12,000 square feet of first floor retail space.
The completion date for the project has been pushed back several times. About 85 percent of the delays were the result of design changes to the project, Economou said. Those changes expanded the size of the building from 9 to 14 floors, and included other enhancements. In addition the soil condition was worse than expected and foundation caissons had to be drilled 100 feet into the ground instead of 50 feet as orignially planned, he said.
Other delays for the project were the result of the rising some of construction materials, which require some additional financing, "which did take a little time," Economou said.
So far, nine of the 31 condominiums in the building have been sold. A model condo unit will be complete in January.
About 2,500 square feet of the retail space has been leased, to a Qdoba Mexican Grill restaurant.
