Northwestern Mutual announces 33-story residential, retail and parking tower downtown

MILWAUKEE – Northwestern Mutual on Monday, October 5th announced the company is building a 33-story real estate development adjacent to its downtown Milwaukee campus.

The tower will feature high-end residential apartments and retail space, while also addressing the company’s workforce parking needs. The development is estimated at more than $100 million and will be built on property the company owns on the block bounded by North Van Buren, North Jackson, East Mason and East Wells streets.



“Northwestern Mutual believes more strongly than ever in Milwaukee and the vibrancy of our city,” said Tom Zale, vice president and head of Northwestern Mutual Real Estate, the company’s real estate arm and one of the largest such investors in the nation. “That’s why we’re creating a destination for future residents looking to live, work and play in the heart of an exciting city while providing convenient parking for our growing employee base.”

Features of the new building will include:

“Milwaukee is experiencing a renaissance, and we’re proud to be one of a growing number of projects that are a magnet to draw even more talent and businesses to the city,” said Zale. “Our new building will also provide positive economic impact and contribute to the city’s tax base.”

He added that the development is also an important addition to Northwestern Mutual’s diverse investment portfolio that produces significant benefits to the company’s millions of clients.

Solomon Cordwell Buenz is designing the project with structural engineer Magnusson Klemencic Associates. Northwestern Mutual is working with development manager Hines to select additional professional services and contractors.

Demolition of buildings currently on the site will begin in January with construction starting in March. The building will be designed with environmental sustainability in mind, and the company expects the project to be completed and occupied by spring 2018.

"This is more fantastic news for the city of Milwaukee. Right now there is so much momentum going on in the heart of the city of Milwaukee. Our challenge is to keep it going and to take it into the neighborhoods because I think this is virtually an unprecedented amount we're seeing in the heart of the city," Milwaukee Mayor Tom Barrett said.