Fort Myers, Fla.-based Development Opportunity Corp. (DOC) plans to break ground during the first or second week of December on a $27 million, 12-story building at the southeast corner of North Water Street and East Juneau Avenue in downtown Milwaukee.
The project will include a 125-room Staybridge Suites hotel, 17,000 square feet of retail space and 30 residential condominiums, DOC president Phil Hugh said. There are more than 10 hotel developments in various stages of development in and around downtown Milwaukee.
Several hotel industry and commercial real estate observers say downtown Milwaukee cannot support that many new hotels. Therefore, many expect only a few of the planned hotels to actually be built. The Development Opportunity Corp. project would be the first of the projects to begin construction.
