Downtown Tower Could Be Redeveloped With Historic Tax Credits

Can something from 1989 be considered historic? We’re about to find out.

The developers who purchased the 35-story 100 East office building out of foreclosure are seeking to convert the tower into the state’s tallest apartment building.

To finance the conversion, they’re seeking historic preservation tax credits from the state and federal governments. But to access credits, which offset up to 40% of historically-sensitive repairs or alterations, the building needs to be listed on the National Register of Historic Places. The city’s Historic Preservation Commission (HPC) did its part Monday, voting to recommend the National Park Service recognize the building.

“Generally speaking, buildings need to be 50 years old to be placed on the National Register,” said HPC planner Andrew Stern during the commission’s Monday meeting. “They’re making an argument as the most important Postmodern building in the city of Milwaukee it deserves special consideration.”...