Tuesday, December 11, 2012

First tenants at Grandview Yard unveiled - The Business Journal of Milwaukee:

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Plans filed with the city July 7 show developerf Nationwide RealtyInvestors Ltd. wantsa to build the first $40 million worthn of projects as it continued planning forthe broader, $500 million to $600 million redevelopmenf on 90 acres in the suburb’s industriapl core. The city’s planning commission will considerd the HyattPlace hotel, Urbamn Active fitness center and a planned Jason’e Deli in the office building as conditionaol uses.
The preliminary and final development plan must go througjh the commission as well as Grandview HeightsCity Dublin-based M&A Architects, the designee of the three-story officw building, plans to occupy at least 20,0000 square feet on the top floor. The plansw mark the first projects presented to the city for approval since Nationwide Realty first began acquirin the former Big BearStores Co. distribution comple and surrounding properties inMay 2006. In conjunction with the real estate projects, Grandview Heights City Council at its July 6 meetinhg heard a first reading of a development agreement between the city and Nationwidre Realty.
The resolution outlines how the city will payfor $78 millioj in road improvements and utilities inside Grandview Yard and another $41 millio in off-site public improvements. Other legislation in supporgt of the development agreement is expected to be introducedf as early as a special July 13 council Construction on the three buildingxs and the first phase of road and utilityh projects could begin as early as late The office, hotel and fitness cente should open in fall said Nationwide Realty President Brian “We should be pretty well positioned to get the projec t going,” he said. The city’s mayorr welcomed the sign of progresa despite the tougheconomic environment.
“Getting somethin out of the ground,” Mayor Ray DeGraw “will attract attention and more people.”

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