Plans move forward for downtown sites

Although the debates over where to locate and how to finance a new arena remain unresolved, two other key downtown Milwaukee properties could be moving toward redevelopment.

Brookfield-based Hammes Co. is working on plans for an office building development in the Park East corridor in downtown Milwaukee.

Hammes would take over a Park East corridor site, located northwest of Water Street and Knapp Street, where Rainier Properties LLC has tried for years to develop an office building with a Marcus Theatres movie theater complex. That project has never moved forward as Rainier, led by Bruce Westling, was unable to attract office tenants.

Hammes wants to take over Rainer’s options on a 0.37-acre county-owned site and an adjacent privately-owned site on the Milwaukee River.

According to a Milwaukee County report, Hammes plans to build a “multi-office building development” on the site.

Total site remediation costs, including utility relocation and environmental cleanup, for the county-owned and the privately owned parcel are estimated at $6.5 million to $7.2 million, according to the report.

Meanwhile, the Shops of Grand Avenue in downtown Milwaukee has again been scheduled to be sold in an online auction. The auction will take place from Oct. 21-23 at Auction.com, which is handling the sale along with Rockwood Real Estate Advisors.

The starting bid for the mall will be $4.75 million. A bid deposit of $50,000 is required.

The property to be sold is a four-building complex at 275 W. Wisconsin Ave. with 298,109 square feet of space, and an adjacent 1,748-space parking structure.

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