HSI Properties LLC announced that it has closed on financing for its The Standard at East Library development at the site of the East Milwaukee Library at 1910 E. North Ave., on Milwaukee’s East Side.
Financing for the $19 million project will be provided by BMO Harris Bank, said HSI principal Ryan Schultz.
The project will consist of a five-story building with 99 market rate apartments, a 17,000-square-foot grey box space for the East Milwaukee Library, and a 2,400-square-foot retail space.
The building was designed by Engberg Anderson Architects and will be built by Stevens Construction.
Groundbreaking is expected to take place in July. The project is expected to be complete in late summer of 2014.