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Old January 28th, 2008, 08:10 AM   #81
Riverwest Ace
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Amen...

I like this guy!
thanks man! You seem like a cool dude yourself.
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Old January 28th, 2008, 08:29 AM   #82
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The Catalyst will boost Wisconsin Ave. nightlife, entertainment, and retail. I reckon it will have a very positive impact on the Grand Ave. Mall, the Midwest Airlines Center, and the godawful West side of downtown.

My dream (well, aside from the ones where Im rich, having sex with Scarlett Johannsen, or the Brewers winning the WS) is to see Wisconsin Ave. be somewhat like Michigan Ave. in Chicago. Something like the Catalyst could bring the kind of pedestrian traffic down there to make something like that possible in the future.
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Old January 28th, 2008, 05:09 PM   #83
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Ace Agreed the Catalyst has the potential to make just that kinda of impact.
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Old January 28th, 2008, 05:43 PM   #84
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Hope they make the tower just a little bit taller though, give it some "impact." By little projects, I just meant it is is projects like these that will eventually get us a building taller than the US Bank Tower.
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Old January 28th, 2008, 11:08 PM   #85
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This project will leave me heartbroken if it folds. I really hope both Milwaukee and Ghazi don't drop the ball on this one. I think its INSANELY important for the city.
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Old January 28th, 2008, 11:32 PM   #86
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New nearby project; it would be nice to see them both happen:

$75 million plan offered for downtown site
A proposed $75 million development at N. 6th and W. State streets that would include student housing, offices, retail space and a parking ramp won preliminary endorsement today from a Milwaukee County Board committee.

The "Civic Center" project was backed by the board's Economic and Community Development Committee on a 7-0 vote. It would sit on prime county-owned land now used as a parking lot that's close to the courthouse, Milwaukee Area Technical College, the Milwaukee Theatre and the Midwest Airlines Center.

The New Vision Development Co. would get an option of up to one year to buy the 1.89-acre property for $3.1 million, if the County Board approves the deal Feb. 7.

The development calls for a seven-story residential apartment tower aimed at students. Its proximity to MATC, Marquette University, Milwaukee School of Engineering and the University of Wisconsin-Milwaukee should attract plenty of tenants, project spokesman Steven Stewart said. The tower, housing 450 students, would be built on the north side of the site, Stewart said. A second tower on the south side of the site might be added later, he said.

Stewart said the apartments would be affordable for students, but he did not say how much the rent would be.

Other features of the project include a 600-stall parking ramp, 50,000 square feet of retail space and an "academic tower" with 58,000 square feet of space for offices, classrooms and laboratories that could be leased by MATC, Stewart said. Spokesmen for New Vision Developers said they hoped to lease 25% of the space in the complex to MATC, but acknowledged they had not yet secured a commitment for that.

An MATC spokesman wasn't immediately available for comment.

The ground floor would include a sit-down restaurant, coffee shop, bank and other retail, according to the project proposal.
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Old February 10th, 2008, 10:02 PM   #87
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This project sounds amazing. When I first moved here from Omaha 6 months ago (I'm a freshmen at Marquette), I was wondering why in the hell there was a massive, undeveloped parking lot across the street from the Midwest Airlines Center and right next to Grand Ave Mall. This is a huge development for downtown Milwaukee. When the plans for this came out, there was an awful story in the Marquette Tribune where a student said she didn't like the project because she felt a new building in downtown Milwaukee would ruin its historic appeal. Funny, because it is across from the Midwest Airlines Center and Federal Plaza, boy, those both scream "historic."

Anyway, I hope this gets built, I look forward to seeing this get built.
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Old February 13th, 2008, 05:46 PM   #88
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http://www.biztimes.com/realestatewe...ect-progresses

Ghazi Co.'s Charlotte project progresses
Charlotte, N.C.-based Ghazi Co., which is planning a major mixed-use development in downtown Milwaukee, is making progress on building a similar, but larger, development in Charlotte according to a recent news report.

In Charlotte, Ghazi Co. is building EpiCentre, which will have more than 300,000 square feet of retail, restaurant, and entertainment space, 414 luxury condominiums, and a 176-room Aloft hotel. To see the project's progress check out the construction web cam.

In Milwaukee, Ghazi Co. plans to build Catalyst, an 800,000-square-foot complex to three connected buildings, on a parking lot southwest of Wisconsin Avenue and North Fourth Street, with more than 200 residents, a 160-room hotel and 150,000 square feet of retail, restaurant and entertainment space.

Plans for the Milwaukee project are progressing, said Ghazi Co. associate Armin Ghazi.

"We're plugging along," he said. "We're getting our construction pricing. We do plan to break ground this year."

Although the collapse of the housing market has made many lenders more cautious about financing large commercial developments, Ghazi said high quality projects at prime locations can still obtain financing.

"There's still money out there," he said. "We're in discussions with several sources."
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Old February 13th, 2008, 06:43 PM   #89
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Phew, good to hear. Seriously, if Milwaukee and/or Ghazi drops the ball on this, I will be completely deflated. I honestly view this as one of the most important projects of the decade for Milwaukee.
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Old February 13th, 2008, 07:13 PM   #90
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Originally Posted by DooMer_MP3 View Post
Phew, good to hear. Seriously, if Milwaukee and/or Ghazi drops the ball on this, I will be completely deflated. I honestly view this as one of the most important projects of the decade for Milwaukee.
Well, you better ante up and grab a condo, or two -- and tell your friends to get one as well. I hope I'm wrong (although it's too early in the year for that) but the soft housing market, coupled with an increasingly-saturated downtown condo market, may adversely affect this project. Is the timing off?
We'll see, but 2-3 years ago this thing might have sold enough condos to warrant 35 stories. Right now, Ghazi will be "plugging along" to sell enough condos to make this a stand-out building. I'd hate to see a diluted version of say, 20 stories. I think his choice of words in the above release -- plugging along -- is interesting, if not telling.
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Old February 13th, 2008, 07:17 PM   #91
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20 stories is still decent, but it would be disappointing. It is still tall enough to be happy with on that lot of land, though. Let's really, really hope it gets built as planned though... it would just be gigantic for really beginning to change the image of downtown.
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Old February 13th, 2008, 07:55 PM   #92
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feed the fire

To show that Ghazi does get their projects built here are a couple photos I took of EpiCentre in Charlotte, NC this past summer

image hosted on flickr



image hosted on flickr
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Old February 13th, 2008, 07:59 PM   #93
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Doesn't have to be condos. The apartment market is doing pretty good right now.
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Old February 14th, 2008, 05:04 AM   #94
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Plus, although it increased in the past year, Milwaukee's foreclosure rate (and thus the health of the real estate market) is below the average of the nations largest 100 metro's. Also, the amount Milwaukee's rate went up was less then the majority of those metro's.

MKE metro foreclosure rate is 1.017 in 2007... thats below the national average (1.033) and well below the largest 100 metro's average (1.382). The places having problems are at 2,3,4 or even almost 5%!

Source: http://www.realtytrac.com/ContentMan...19&accnt=64847

Besides, as stated already the apartment market is very good. Last I heard the occupancy rate was around 97-99%?? Someone else will have to confirm that though.
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Old February 14th, 2008, 07:19 AM   #95
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Yea the last report I saw indicated the downtown apartment market had the occupancy rate right about what you said 95+%
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Old February 14th, 2008, 08:09 AM   #96
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Hope you're all right, and Milwaukee can support an even larger project. Imagine the current rendering with another 5-7 stories on it!
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Old February 14th, 2008, 06:34 PM   #97
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It's very preliminary... I just hope they change the design of the tower and make it less of just a windowed box. Their first version really had its own taste and flavor... this one is kind of uninteresting.

But I'll take it in a heartbeat, oviously.
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Old February 15th, 2008, 06:05 PM   #98
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Quote:
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Hope you're all right, and Milwaukee can support an even larger project. Imagine the current rendering with another 5-7 stories on it!
See, this is one project where I think height is of the least of our concern. Honestly, the thing could be 10 stories and have all of the retail/entertainment as proposed, and it would still be an amazing project for this city. If they pull this off right, I think it will open the doors to the taller projects you want to see so bad. This really could be a catalyst.
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Old February 19th, 2008, 09:39 PM   #99
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Last edited by MilwaukeeD; February 19th, 2008 at 10:37 PM.
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Old February 19th, 2008, 11:15 PM   #100
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there isn't going to be an update anymore?
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