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Northwestern Mutual planning new high-rise for downtown Milwaukee

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MILWAUKEE — Northwestern Mutual Life is planning a new high-rise construction project for downtown Milwaukee — expanding its corporate headquarters.

The details will be announced at a news conference on Thursday morning, December 6th.

The Milwaukee Business Journal reports this will be a $300 million office tower that will replace Northwestern Mutual’s existing 16-story building in downtown Milwaukee.

The 840,000-square-foot building could add up to 1,700 jobs by 2027, the release said. It could be completed by 2017.

The deal is contingent on a proposed $48 million tax incremental financing deal from the city.

The current building houses about 1,100 employees, and the company’s executives have determined it would be cheaper to replace the structure than repair and maintain it — according to the Milwaukee Business Journal.

The new building will be on the same site as the existing building.

Northwestern Mutual employs 3,000 in downtown Milwaukee and 2,000 at its Franklin campus.

CLICK HERE for more on this story via the Milwaukee Business Journal’s website.