A different real estate development group could take over a site in the Park East corridor, along the east side of the Milwaukee River in downtown Milwaukee.
The site, located northwest of Water Street and McKinley Avenue, is where Rainier Properties LLC has tried for years tried to develop an office building with a Marcus Theatres movie theater complex. But the project has never moved forward as Rainier, which includes Bruce Westling and Gary Grunau, has been unable to attract office tenants.
Much of the site is owned by Milwaukee County and Rainier Properties has an option to purchase it, which has been extended several times.
Now another development firm, called Milwaukee River Partners I LLC, wants to take over Rainer’s options on the 0.37-acre county-owned site and an adjacent privately-owned site on the Milwaukee River.
Milwaukee River Partners I LLC plans to build a “multi-office building development” on the site, according to a memo submitted this week to Milwaukee County Board Chairwoman Marina Dimitrijevic.
The project would create about 350 construction jobs during the first phase of the project, which would take 18 to 24 months, according to the memo.
The registered agent for Milwaukee River Partners is Bradley Page, the president of the Davis & Kuelthau S.C. law firm. He could not be reached for comment.
When contacted Westling declined to provide any information about Milwaukee River Partners LLC.
The Milwaukee County Economic Development Division is asking the County Board to consider reassigning the option for its site from Rainier to Milwaukee River Partners for a 12-month period.
Total site remediation costs for the project, for the county-owned and the privately-owned sites plus utility relocation for the portion of Edison Street through the site, which would be vacated, is estimated between $6.5 million and $7.2 million, according to the Milwaukee County memo.
