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Old November 3rd, 2009, 07:50 PM   #1
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MILWAUKEE | Moderne | 106m | 347ft | 30 fl | Com





The Moderne is part of the larger-scale redevelopment of Park East, a tract of vacant land in downtown Milwaukee that was left over after the demolition of an underused freeway spur.

More on the Park East Freeway

* * *

Moderne loans win full council approval

By Tom Daykin of the Journal Sentinel
Nov. 3, 2009 8:58 a.m.

The City of Milwaukee will lend $9.3 million to help finance development of the $55.2 million Moderne apartment high-rise under a 13-2 vote this morning by the Common Council...

http://www.jsonline.com/blogs/business/68844897.html
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Old November 4th, 2009, 05:47 PM   #2
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Originally posted by EastSider:

From Rinka Chung (Architect)





Interior:






Skyline


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Old November 4th, 2009, 06:18 PM   #3
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This would be great for Milwaukee. The city really needs it. Milwaukee's skyline is just such a disappointment. The downtown is nice and has plenty of great older buildings, but there are few over 100 meters. This fits in nicely.
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Old May 11th, 2010, 11:05 PM   #4
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Moderne high-rise remains on hold pending HUD loan guarantee OK
By Tom Daykin of the Journal Sentinel

May 11, 2010 7:15 a.m.

The groundbreaking for downtown's Moderne high-rise apartment project remains delayed as developer Rick Barrett continues to wait for final approval from the U.S. Department of Housing and Urban Development for a loan guarantee...

http://www.jsonline.com/blogs/business/93326534.html
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Old May 13th, 2010, 09:09 PM   #5
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Nice. With so much glass, the view from the apartments must be splendid.
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Old May 18th, 2010, 01:57 AM   #6
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I hope they start soon, would love to see Milwaukee acquire a real skyline
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Old September 1st, 2010, 05:23 PM   #7
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Great news

Moderne high-rise loan guarantee wins final OK, work to begin soon

By Tom Daykin of the Journal Sentinel
Aug. 27, 2010 1:10 p.m. |(4) COMMENTS

The final approval for a federal loan guarantee to finance the planned downtown Moderne apartment high-rise has just been granted by the U.S. Department of Housing and Urban Development, an agency spokeswoman told me Friday afternoon.

That approval paves the way for developer Rick Barrett to begin building the Moderne, which will have 203 apartments and 14 condos at the southwest corner of W. Juneau Ave. and N. Old World 3rd St. It will be among the largest construction projects currently happening in the Milwaukee area.

HUD's local office granted preliminary approval last fall for the guarantee, which applies to a $41.4 million loan from the AFL-CIO Housing Investment Trust. The Common Council in November approved $9.3 million in city loans for the Moderne, which also will have at least $4.3 million in equity financing from Barrett and his partners.

Barrett had scheduled a February groundbreaking on the project.

But final approval was delayed largely because HUD nationwide is swamped by a huge increase in loan guarantee applications, Department of City Development officials told members of the council's Zoning, Neighborhoods and Development Committee in May.

That's occurring because banks and insurance companies have cut back on commercial real estate loans.

I'll have more information later at JSOnline.com, and in Saturday's Journal Sentinel.

http://www.jsonline.com/blogs/business/101661458.html
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Old November 19th, 2010, 12:03 AM   #8
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Moderne high-rise loan closing expected by December, HUD says

By Tom Daykin of the Journal Sentinel

Nov. 18, 2010 7:00 a.m. | Despite winning final approval for its federal loan guarantee in late August, construction still hasn't started on downtown Milwaukee's $55 million Moderne apartment high-rise.

However, developer Rick Barrett told me he expects to soon schedule a groundbreaking.

Barrett says the delay is due to the complex process needed to finalize the project's financing: a $41.4 million loan from the AFL-CIO Housing Investment Trust; $9.3 million in city loans, and at least $4.3 million in equity financing from Barrett and his partners.

The AFL-CIO loan is subject to the U.S. Department of Housing and Urban Development guarantee. A spokeswoman at HUD's Milwaukee office said the closing documents for The Moderne loan are under review, and are expected to be finalized in December.

If Barrett defaults on the AFL-CIO loan, the money to pay it back would not come from a general fund provided by U.S. taxpayers, as I previously (and inaccurately) reported. ╗Read Full Blog Post(5)

http://www.jsonline.com/blogs/business/108786829.html
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Old November 19th, 2010, 06:41 AM   #9
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9/10 even with the modest height. It just looks beautiful!
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Old December 21st, 2010, 10:18 PM   #10
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Moderne high-rise loan finalized, work to begin in early 2011
By Tom Daykin of the Journal Sentinel
Dec. 21, 2010 1:53 p.m.

I reported in November that the federal loan guarantee for downtown Milwaukee's Moderne high-rise was expected to be finalized in December.

I just got off the phone with a spokeswoman for the U.S. Department of Housing and Urban Development's local office. She told me Moderne developer Rick Barrett and HUD officials are signing the loan guarantee documents "as we speak."

I haven't had a chance to call Barrett yet. But I assume this means the groundbreaking will be scheduled soon, perhaps for after the holidays. The work on the Moderne, which will take about two years to complete, will begin in 2011.

The HUD guarantee backs the Moderne's main financing: a $41.4 million loan from the AFL-CIO Housing Investment Trust...

http://www.jsonline.com/blogs/business/112265454.html
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Old December 22nd, 2010, 11:55 AM   #11
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Very good project. Good addition to skyline.
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Old December 22nd, 2010, 06:30 PM   #12
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Downtown project gains loan guarantee
Moderne will be built in former freeway corridor

By Tom Daykin of the Journal Sentinel

Dec. 21, 2010

The federal loan guarantee for downtown Milwaukee's Moderne high-rise was signed Tuesday, paving the way for work to begin in early 2011 on the $55 million project.

http://www.jsonline.com/business/112292494.html
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Old December 29th, 2010, 05:21 PM   #13
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Site preparation work underway for The Moderne
Published December 29, 2010 - Real Estate Weekly

The day after developer Rick Barrett closed on the financing package for the $55 million Moderne development last week, workers with J.H. Findorff & Son Inc. began preparation work at the site, located southwest of Old World Third Street and Juneau Avenue in downtown Milwaukee...

...Site preparation work for The Moderne is continuing this week, and construction work is expected to begin next week, said Eric Wynn, Findorff senior project manager. “We are taking this week and doing a lot of the mobilization to the job site,” Wynn said. “The week of January 3 we hope to start actual, physical construction."...

http://www.biztimes.com/realestatewe...or-the-moderne
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Old January 13th, 2011, 11:01 PM   #14
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Construction begins for The Moderne


Workers with J.H. Findorff & Son Inc. recently began construction of The Moderne, a 30-story building that will be built southwest of Old World Third Street and Juneau Avenue in downtown Milwaukee.
“We’re in full 100 percent construction phase,” said Rick Barrett, the developer for The Moderne.
A groundbreaking ceremony to celebrate the start of the construction project will probably be held in February, Barrett said.
The Moderne will be a 30-story building with 203 apartments, 14 condominiums and first floor retail space. The AFL-CIO Investment Trust provided a $42 million loan, backed by the U.S. Department of Housing and Urban Development’s 221(d)4 program, and the city of Milwaukee provided a $9.3 million loan.
The construction schedule for the project is 22 months, which means the project is scheduled to be completed at the end of October, 2012. However, Barrett said, “we’re going to try to shave some time off of that.”
The project will be topped off by Christmas, Barrett said.
“We will have the structure in place in 12 months,” he said.

http://www.biztimes.com/realestatewe...6-stories-tall
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Old March 6th, 2011, 06:22 PM   #15
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Update

By skylinedude

Quote:
Originally Posted by skylinedude View Post
Here are some pics I took on February 14th of the Moderne site. The crane I would guess is somewhere around 75 to 100 feet off the ground until the building rises from the ground. They are using the vacant land to the west of Sydney Hih at 4th and Juneau and moving materials over Juneau Avenue on the crane to the building site. Flaggers are there every few minutes controlling traffic. I wouldn't be too surprised if they eventually close Juneau Avenue between 3rd and 4th Streets until the building is topped off for safety.

image hosted on flickr


image hosted on flickr


image hosted on flickr


image hosted on flickr


image hosted on flickr
by MilwaukeeMax

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Originally Posted by MilwaukeeMax View Post
new photos of the underground/foundation levels being put in...

image hosted on flickr


image hosted on flickr

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Old March 6th, 2011, 07:05 PM   #16
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Well, that looks nice and "moderne".
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Old March 8th, 2011, 01:49 AM   #17
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it looks nice at night.
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Old March 9th, 2011, 08:38 AM   #18
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I think the building will be awesome and it would be a great asset for the business offices.
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Old March 24th, 2011, 01:17 PM   #19
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image hosted on flickr

The Big Pour at The Moderne by davereid2, on Flickr
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Old April 9th, 2011, 02:07 PM   #20
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By MilwaukeeMax

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