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The financing would be provided through new property tax revenue generated by the Lakeshore Commons project.
It would be developed on 66 acres next to Lake Vista Park, north of Bender Park and east of South Fifth Avenue, that was part of Oak Creek s largely industrialized lakefront for decades.
Milwaukee development firm F Street Group LLC plans to build Lakeshore Commons in phases over several years. The housing units would include both rental units as well as those for sale.
The Oak Creek Common Council on Tuesday night voted 5-0 for a development agreement that would fund up to $14.6 million for the project s first phase.
Milwaukee Tool closes on purchase of office in downtown MKE, plans renovation work in June
Milwaukee Tool plans to begin renovation work next month on a building in downtown Milwaukee after closing on its purchase of the property late last week.
The Brookfield-based manufacturer plans to spend $30 million to overhaul the 350,000-square-foot, mostly vacant office building, at 501 W. Michigan St., to provide space for 1,200 workers. The project promises to bring a big influx of employees to downtown Milwaukee.
One of Milwaukee Tool’s affiliates closed on Friday on the purchase of the property, paying nearly $8 million, according to a Monday filing with the Milwaukee County Register of Deeds. Before this, the property had belonged to the developer Scott Lauie, of F Street Group, who bought it in 2019 for $4 million.