Milwaukee's Hotel Palomar Project Scrapped
Filed under: Real Estate Developments
A $150 million hotel and condominium project planned for Milwaukee, Wisconsin has become the latest victim of the down economy. Gatehouse Capital Corp. has decided not to proceed with the Palomar Hotel and Residences. The project called for 66 luxury condos and a 175-room Kimpton Palomar Hotel located in downtown Milwaukee's Park East area on a country-owned parcel of land. Last November, as the Milwaukee Journal-Sentinel reports, the County Board voted to extend Gatehouse's purchase option to November 2009 to accommodate a delay in construction. The project was originally supposed to begin construction last year but was then put off to 2010.
