Milwaukee-based Van Buren Management Inc. plans to build a four-story, 570-space parking structure at the Renaissance Faire office building at 801 S. 60th St. in West Allis.
The cost of the project is estimated at $5.25 million, according to a city staff report. Construction is expected to take place this summer.
The property includes a main building with 182,000-square-foot western portion and a newly renovated 178,968-square-foot eastern portion, and a 24,000-square foot free-standing fitness center building.
About 250,000 square feet of space in the main building is occupied by tenants, said Van Buren Management owner Joel Lee. Tenants in the main building include U.S. Bank (70,000 square feet of space), Wheaton Franciscan Healthcare (45,000 square feet) and WDJT-TV CBS Channel 58 (30,000 square feet of space).
If a significant amount of additional space is leased, “we’re going to need additional parking,” he said.
The parking structure will be built on the southwest corner of the site. Once complete, the entire property will have about 1,500 parking spaces.
Van Buren Management bought the building in 1985 and has invested $15 million in upgrades, Lee said. The eastern portion of the building was formerly occupied by a Sam’s Club store, but Van Buren converted it into two stories of office space.