Last updated on May 15th, 2019 at 05:03 pm
Blue Ribbon Redevelopment Fund V, is seeking a $625,346 bridge loan to renovate the former First German Methodist Church building at the former Pabst brewery complex, now a mixed-use neighborhood known as The Brewery.
Blue Ribbon is proposing to renovate the building at 1037 W. Juneau Ave. into a microbrewery, restaurant, bar and beer garden to be operated by a “specialty brewer,” according to a report from the Milwaukee Economic Development Corp. Last year Pabst Brewing Co. announced it would open a small brewery and tasting room in the building. Blue Ribbon Management, the managing member of Blue Ribbon Redevelopment Fund V, is the developer for the project.
The company is seeking the bridge loan from the MEDC until it receives its historic tax credits to help pay for the $5.1 million project.
Michael Kelly, executive vice president of Blue Ribbon Management would not comment further on the project.
Nomad World Pub owner and Lowlands Group co-founder, Mike Eitel was planning to operate the restaurant and bar planned for the building, but pulled out of the project in September. The bar and restaurant will move forward with the project being taken over by Pabst, Kelly said in February.
Kelly declined to give a specific timeline for the project in the former First German Methodist Church building, but said plans would be “virtually unchanged,” from the original plans that included Eitel.
“The plans are still what we presented and got approval from the state and federal government,” Kelly said during the February interview.
MEDC’s Loan and Finance Committee will consider the loan request at its April 12 meeting.