MILWAUKEE Plans for a new office and light-manufacturing facility in the Menomonee Valley took a major step forward today after the Milwaukee Common Council approved an agreement to sell approximately 8.1 acres of land to HSI Development Partners LLC.
HSI will begin construction in early 2008 on a $10 million, 160,000-square-foot, custom-designed facility, which will be leased long-term to Derse Inc., a national company now based in Wauwatosa that is best known for its high-tech, large-scale exhibition booths.
“We are happy that the Council approved the sale of the land and allowed this project to move forward,” said HSI principal Ryan Schultz. “We have secured an attractive financing package, including federal New Markets Tax Credits, and are eager to begin construction early next year, pending proper environmental site evaluation.”
“We commend Mayor Tom Barrett and Rocky Marcoux, commissioner of the Milwaukee Department of City Development, for their commitment to expanding economic development in the city, and leading the re-birth of the Menomonee Valley,” said Brett Haney, HSI principal.
The proposed building’s forward-looking design, created by Eppstein Uhen Architects, primarily incorporates pre-cast concrete and glass materials. Derse will move into its new headquarters by as early as summer 2008.
For more information on HSI Development Partners, visit www.hsidevelopment.com.
