Developers have proposed more than a dozen multimillion-dollar projects for downtown Milwaukee in recent months that could add nearly $1.2 billion in real estate value to the city’s central business district.
With the Milwaukee River as the focal point of development activity, mixed-use projects have been proposed that include thousands of square feet of retail and office space, hundreds of hotel rooms, and additions to the soaring number of condominium and apartment units in downtown Milwaukee.
Milwaukee is attracting more national development firms and out-of-state capital, said Rob Ruvin, a Milwaukee developer and the unofficial spokesman for a group of Park East developers known as the Park East 12.
“As primary markets become saturated, developers are coming to secondary markets like Milwaukee because of the rich potential,” said Ruvin, who has teamed with Gatehouse Capital, Dallas, for two projects in the Park East corridor.
Ruvin is president of Ruvin Development Inc., Milwaukee, which has two projects getting started west of the Milwaukee River in the Park East corridor with a combined value of $205 million…