Schlitz Park developer Gary Grunau is seeking a $1.25 million loan from the Milwaukee Economic Development Corporation to begin converting warehouse space on the first floor of the Schlitz RiverCenter Building into office space for two tenants that will bring 350 jobs to Milwaukee.
Grunau will not say who the tenants are, but said both are from outside of Milwaukee County.
“We will announce when the deals are finalized, within the next 60 days,” Grunau said.
Both tenants will occupy what is currently warehouse space on the first floor of the RiverCenter Building, 1555 N. RiverCenter Dr., which was vacated by Assurant Corp. The space will be converted to about 80,000 square feet of office space, Grunau said.
On July 1, VCPI, a health care IT company, relocated 150 employees from the former Extendicare Health Services building at 111 W. Michigan St. in downtown Milwaukee to second floor office space in the Schlitz Park RiverCenter building that had also previously been occupied by Assurant.
Assurant in 2015 announced plans to close its Milwaukee operations, and lay off 1,200 Milwaukee employees.
Markham, Ontario-based Extendicare Inc. closed the headquarters of its Milwaukee-based Extendicare Health Services subsidiary last year.
VCPI, a subsidiary of Extendicare Canada, is leasing 20,000 square feet on the second floor of the building. US Bank is on the building’s third floor.
The Milwaukee Economic Development Corporation will review the loan application Tuesday.
