MILWAUKEE | Lake Pointe Tower | 43 floors | NEVER BUILT

[Markitect]

Regarding Lake Pointe Tower...

1) Developers are still waiting for more office anchor tenants. The office firm they're trying to woo has not made a decsion on whether to move into LPT, find someplace else, or stay put at their current location (which happens to be in the US Bank Center). They're not expected to make a final decision until later this year.

2) Developers have not lined up all of the financing (private and public) for this proposal yet.

3) Developers haven't received any City approvals for the proposal.

4) There's a low-rise parking garage on the site for the proposed LPT. That has to be demolished before any work on LPT could commence.


As for the Ruvin proposal in the Park East corridor...that has not been "approved" yet either. All that's been decided is to whom the County Board will sell the land (Ruvin won out over Rana). In other words, all that's taken place was a land transaction. The County does not have any authority to actually approve the developments...that responsibility lies with the City.

[Skyking]

This from NorthernILMike from another site:

-----------------------------

Saw this little tidbit coming up hopefully good news for Lake Pointe Tower.

This is on Oct 26th Bonza Schedule

Special Use/ Dim Var.
Dismissal U.S. Bank National Association
Corporate Real Estate Dept.; Property Owner 815 E. Michigan St.

Request to construct a mixed-use(residential, commercial, office) high-rise building, (41 to 45 stories) with a helicopter landing facility on site, that is over the maximum allowed floor area ratio permitted by code.

-----------------------------

Not sure exactly what this means, but it seems there is forward progress for Lake Point Tower.

But, what's with the helicopter landing pad?! It was in an early rendering, and it looked pretty stupid. Why the heck would you need a helicoper pad on LPT?

[Markitect]

Originally Posted by Skyking

Not sure exactly what this means, but it seems there is forward progress for Lake Point Tower.

But, what's with the helicopter landing pad?! It was in an early rendering, and it looked pretty stupid. Why the heck would you need a helicoper pad on LPT?

This is just an entry on the agenda for the upcoming Board of Zoning Appeals meeting. What it means is whatever zoning changes the developers were applying for are being dismissed. Not approved, not denied, but dismissed...meaning whatever they wanted is no longer applicable to the project.

The rooftop helicopter landing area that showed up in earlier designs (from back in February) no longer appears on the more recent design drawings (from last month), so most likely the dismissal has to do with that. They no longer need/want the landing pad, so they are withdrawing their request to change the zonging to let them have it.

[i_am_hydrogen]

Originally Posted by Markitect

As for the Ruvin proposal in the Park East corridor...that has not been "approved" yet either. All that's been decided is to whom the County Board will sell the land (Ruvin won out over Rana). In other words, all that's taken place was a land transaction. The County does not have any authority to actually approve the developments...that responsibility lies with the City.

I'm assuming approval will be forthcoming. Any idea when the city is scheduled to make its decision?

[Markitect]

Originally Posted by i_am_hydrogen

I'm assuming approval will be forthcoming. Any idea when the city is scheduled to make its decision?

When the developers are ready to ask the city for all the necessary approvals.

They're not ready to do that yet. More anchor tenants are needed, financing (most likely from private and public sources) stuff has to be worked out, etc.

[Steely Dan]

sorry, there's nothing new to report, but i had to bump this as a purge protection.

[NYC2ATX]

is this thread dead? anyone know what happened to milwaukee's new promise building?

[CGII]

It's certainly not dead, just quiet, lots of behind the scenes work going on right now.

[i_am_hydrogen]

Didn't Baird, the potential anchor tenant for this building, renew its lease with the US Bank Center?

Edit: I found an article: Good news for downtown, bad news for the LPT.

Baird's headquarters will stay in U.S. Bank Center

Published February 8, 2007 - BizTimes Daily

Robert W. Baird & Co. Inc. announced today it will keep its headquarters in the U.S. Bank Center at 777 E. Wisconsin Ave. in downtown Milwaukee.

The company said it has signed an extension for its lease in the building through 2014. The extension provides Baird with about 264,000 square feet of space on 12 floors with options for additional space in the future.

The announcement is a blow to Milwaukee-based JBK Properties Inc.'s plans to build Lake Pointe Tower, a proposed 42-story mixed use building at the current site of a parking garage just southeast of the U.S. Bank Center. JBK needs to obtain an anchor tenant to get that project going and was trying to convince Baird to move to the proposed new tower.

"We know they were under a tight deadline and they had to decide if they were going to stay or go," said Carl Mueller, a spokesman for JBK. "Of course we would have loved to have them in the new building."

Despite the decision by Baird, Mueller said the Lake Pointe Tower project is still "very much alive" and there are other potential anchor tenants that could commit to moving to the building, which would allow construction to begin. He declined to name those tenants.

"The project is very much alive," Mueller said. "I think this will have a potential impact on the timing, but other than that this is still a very attractive location. We fully expect the planning and process to move forward."

Baird said its executives conducted a "very thorough review of a wide variety of options" for its headquarters location.

"Throughout our review process, our primary considerations have been providing the best experience for our associates and clients while positioning us for the future," said Paul Purcell, Baird's chairman, president and chief executive officer. "We felt it important to have our home office associates working in close proximity. And, we know that maintaining our headquarters in the city's premier lakefront property underscores the important role Baird and its associates play in Milwaukee's downtown as well as the greater metropolitan area."

Baird is the largest tenant in the 1.1 million-square-foot, 42-story U.S. Bank Center, which is the state's largest office building. Baird has more than 900 employees who work in the building.

Baird studied numerous locations and facilities in the greater Milwaukee area for a possible headquarters relocation. In reaching its decision, the firm said it considered a number of factors including cost, convenience for clients and employees and site amenities.

Milwaukee Mayor Tom Barrett said he is glad the company is staying downtown.

"I'm extremely pleased that Baird has committed to staying in downtown Milwaukee for years to come," he said.

"Downtown Milwaukee has proven to be a great place for Baird to do business, and we like to think we've helped make downtown a more vibrant place to work and live," Purcell said. "We're pleased to be an integral part of the city's future."

http://www.biztimes.com/daily/2007/2/8/bairds-headquarters-will-stay-in-us-bank-center

[NYC2ATX]

Originally Posted by i_am_hydrogen

Didn't Baird, the potential anchor tenant for this building, renew its lease with the US Bank Center?

Edit: I found an article: Good news for downtown, bad news for the LPT.

Baird's headquarters will stay in U.S. Bank Center

Published February 8, 2007 - BizTimes Daily

Robert W. Baird & Co. Inc. announced today it will keep its headquarters in the U.S. Bank Center at 777 E. Wisconsin Ave. in downtown Milwaukee.

The company said it has signed an extension for its lease in the building through 2014. The extension provides Baird with about 264,000 square feet of space on 12 floors with options for additional space in the future.

The announcement is a blow to Milwaukee-based JBK Properties Inc.'s plans to build Lake Pointe Tower, a proposed 42-story mixed use building at the current site of a parking garage just southeast of the U.S. Bank Center. JBK needs to obtain an anchor tenant to get that project going and was trying to convince Baird to move to the proposed new tower.

"We know they were under a tight deadline and they had to decide if they were going to stay or go," said Carl Mueller, a spokesman for JBK. "Of course we would have loved to have them in the new building."

Despite the decision by Baird, Mueller said the Lake Pointe Tower project is still "very much alive" and there are other potential anchor tenants that could commit to moving to the building, which would allow construction to begin. He declined to name those tenants.

"The project is very much alive," Mueller said. "I think this will have a potential impact on the timing, but other than that this is still a very attractive location. We fully expect the planning and process to move forward."

http://www.biztimes.com/daily/2007/2/8/bairds-headquarters-will-stay-in-us-bank-center

I hope it does move forward, I can see Milwaukee changing for the better, I want that to keep up.

[thrillbilly]

Can you post the renderings up again? They won't show.....

[i_am_hydrogen]

Originally Posted by thrillbilly

Can you post the renderings up again? They won't show.....

The design will probably be tweaked and refined.

[X-fib]

Interesting design but taller and thinner would be better. An 800 footer make a profound statement in Milwaukee.

[Tom Servo]

"The design will probably be tweaked and refined."

If anything changes, I hope it's only to refine the detailing; hopeful the structure stays the same.


Who is the architect of this?

[Nowhereman1280]

Originally Posted by X-fib

Interesting design but taller and thinner would be better. An 800 footer make a profound statement in Milwaukee.

Yes Milwaukee needs something like an 800 footer (or even 700'er), but not here, this building would actually fit in alot better if it were a bit skinnier or about 5 floors shorter, because otherwise it will make the already akward cliff at the US Bank Building twice as bad. There needs to be some sort of taper on the south, I don't know if the Third Ward will ever produce anything to that effect. I've always thought that Milwaukee's skyline would become perfectly balenced if they built a 650-800' building on or south of Cathedral Square, it would be the perfect spot in relation to our current buildings.

[thrillbilly]

Originally Posted by Nowhereman1280

Yes Milwaukee needs something like an 800 footer (or even 700'er), but not here, this building would actually fit in alot better if it were a bit skinnier or about 5 floors shorter, because otherwise it will make the already akward cliff at the US Bank Building twice as bad. There needs to be some sort of taper on the south, I don't know if the Third Ward will ever produce anything to that effect. I've always thought that Milwaukee's skyline would become perfectly balenced if they built a 650-800' building on or south of Cathedral Square, it would be the perfect spot in relation to our current buildings.

I agree with you there, milwaukee's skyline always looks wierd with that sudden cliff.

[CGII]

There are plans for an 18 story hotel on St. Paul St. in the Third Ward, which, lamentably will probably be cut down, if it hasn't already.

Slightly off topic, but I designed a 50 some floor tower for the corner of Milwaukee and Wells, currently a two level parking garage, that to me, would be the best place for Milwaukee's tallest.

[Markitect]

The Renaissance ClubSport hotel proposal in the Third Ward was reduced to 14 stories several months ago...a much better fit for the neighborhood.

[NYC2ATX]

Originally Posted by CGII

There are plans for an 18 story hotel on St. Paul St. in the Third Ward, which, lamentably will probably be cut down, if it hasn't already.

Slightly off topic, but I designed a 50 some floor tower for the corner of Milwaukee and Wells, currently a two level parking garage, that to me, would be the best place for Milwaukee's tallest.

I can see that happening, but also, I looked on Google Earth in downtown Milwaukee, and I saw a surface parking lot bordered by E Mason, N Jefferson, & N Jackson Streets. I think that would be good for a tall building also b/c it calls back to Nowhereman's idea for something south of Cathedral Square.

Originally Posted by Markitect

The Renaissance ClubSport hotel proposal in the Third Ward was reduced to 14 stories several months ago...a much better fit for the neighborhood.

I'd love to see a rendering of that hotel, maybe some more info as well. It sounds interesting.

[thrillbilly]

Originally Posted by Markitect

The Renaissance ClubSport hotel proposal in the Third Ward was reduced to 14 stories several months ago...a much better fit for the neighborhood.

I haven't heard anything on this, is there any renderings or website?