The owners of Milwaukee’s Asian Market are seeking a larger loan to build an 80,000-square-foot public market/community center at 6300 N. 76th St. on Milwaukee’s northwest side.
Milwaukee’s Asian Market currently operates in a 14,000-square-foot building with about 35 vendor sites and an Asian grocery market at the same location.
The proposed 80,000-square-foot building would have about 160 vendor sites, professional office space, a larger food court with multiple restaurants and a multi-purpose room that would be available as a gumnasium or could be used for larger family or community events.
Last year Milwaukee’s Asian Market sought a $200,000 loan from the Milwaukee Economic Development Corp. to help finance the $3.5 million project.
Now Milwaukee’s Asian Market is seeking a $418,288 MEDC loan for the project, which now costs nearly $4.1 million. The primary lender for the project is Ridgestone Bank.
The MEDC Loan and Finance Committee will consider the request during its meeting on Tuesday.