Jackson Street Management LLC, the developer for the planned Marriott in Milwaukee, has closed on the purchase of the hotel property near the corner of East Wisconsin Avenue and North Milwaukee Street, the company announced Thursday.
Ed Carow, managing partner for the development company, said the purchase paves the way for construction of the 200-room hotel to start later this year.
The transaction involved the buildings at 310-325 E. Wisconsin Ave., 327 E. Wisconsin Ave. (including 633 N. Milwaukee St.), 625 N. Milwaukee St., 627 N. Milwaukee St. and 629-631 N. Milwaukee St.
The purchase price was not disclosed, according to a news release from Jackson Street Management.
The $54 million Downtown Marriott will front Milwaukee Street and Wisconsin Avenue and be constructed around the existing Johnson Bank building at 333 E. Wisconsin Ave. It will incorporate all of the Wisconsin Avenue facades of the 19th-century buildings currently on the site.
The proposed hotel will have 200 guest rooms and suites, meeting and banquet space, according to the release. Longtime Milwaukee jeweler Schwanke-Kasten also has announced plans for a store in the hotel, according to the release.
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