Wait, Skyking, I haven't heard anything about it, but has the Ruvin proposal been favoured since they passed it on to the County Board?
EDIT:
I just looked it up on JSOnline. This is great news everyone, I'm delightedly happy to see such a fine project gain approval in this town. A toast for Ruvin.
Luxury hotel for Park East area approved
By TOM DAYKIN
tdaykin@journalsentinel.com
Posted: Sept. 28, 2006
A proposal for a luxury hotel, condominiums, offices and retail space in downtown Milwaukee's Park East area won approval today from the County Board, which voted to sell a county-owned site for the development.
The board voted 16-3 to sell the parcel, bordered by N. Old World 3rd and N. 4th streets and W. Juneau and W. McKinley avenues, to a group led by Ruvin Development Inc. and Dallas-based Gatehouse Capital Corp. Their plan calls for a 175-room hotel, 70 condos, 55,000 square feet of offices, 31,000 square feet of retail space and a 330-car parking structure.
In making that decision, the board rejected a rival proposal, from Rana Enterprises. Rana proposed a 202-room hotel, a gas station/convenience store, 14,000 square feet of offices, 9,000 square feet of additional retail space and a 400-car parking structure.
Robert Ruvin, Ruvin Development president, said the development firm plans to begin site preparation work within 90 days. He said he expects to begin construction on the new building within a year. It will take 18 months to 24 months to complete the project once construction begins, Ruvin said.
The three supervisors who voted against selling the land to Ruvin and Gatehouse were Toni Clark, Elizabeth Coggs-Jones and James White.
Today's vote came two months after the proposals were initially presented to the board's Committee on Economic and Community Development. The committee, at a special meeting before the board meeting, recommended approval for the Rana proposal. That occurred two weeks after the committee declined to make a decision on recommending a proposal.
County development officials said Ruvin's proposal would generate annual property taxes of just more than $2 million, compared with roughly $626,000 that Rana's development would generate each year.
Ruvin would create 500 construction jobs, while Rana would create 131 to 154 construction jobs, according to the developers. Ruvin offered to buy the parcel for $2.9 million, compared with $2.8 million offered by Rana.
Also, Rana Enterprises President C.A. Rana said he would guarantee a $500,000 payment to a county fund to help develop affordable housing in Milwaukee. He had previously guaranteed a $150,000 payment for that effort.
Meanwhile, Ruvin officials emphasized their partnership with Gatehouse, which has developed luxury hotels in Los Angeles, San Diego and Dallas. Ruvin's projects include the $35 million conversion of the 169-unit Blatz Apartments, 270 E. Highland Ave., into condos.
Rana is known for operating Milwaukee-area gas stations and convenience stores. Also, Rana once worked for a firm that has developed mid-price hotels in Canada.