Couture developer says he’s secured enough equity for project


Couture developer says he’s secured enough equity for project


Developer Rick Barrett says he has secured the remaining needed equity for The Couture, the long-planned 44-story luxury residential tower near the lakefront in downtown Milwaukee, and has resubmitted the project for a loan guarantee through the U.S. Department of Housing and Urban Development.

The $122 million project is planned southwest of Michigan Street and Lincoln Memorial Drive. Barrett, founder and chief executive of Milwaukee-based Barrett Lo Visionary Development, first unveiled plans for The Couture in 2012. But vertical construction still has not commenced, and Barrett has been working to secure enough equity to resubmit an application for the HUD guarantee. Barrett Lo’s previous loan application expired in July 2019...

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Ken Notes: I am surprised he can build this for 122 million...

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- - Volume: 8 - WEEK: 27 Date: 7/2/2020 10:26:16 AM -