Hyatt Place Milwaukee
Milwaukee, WI | 150 Rooms
Opportunity
Janko Group contracted to purchase a nearly 1-acre site in Downtown Milwaukee in late 2015. The site is located within the Pabst Brewery District, a 20-acre mixed-use development formerly home to the Pabst Beer Company. In October 2016, Janko Group received final Milwaukee Plan Commission approvals to develop a six-story, 150-room Hyatt Place. During the time between contracting the land site and receiving approvals, the Milwaukee Bucks ownership group announced plans and final funding of a new $550 million Milwaukee Bucks arena and surrounding entertainment district opening for the 2018 NBA season. The planned hotel will be one block from the Milwaukee Bucks practice facility and attached medical center. The new 714,000 SF arena will host Bucks' home games, various shows, concerts, and convention events throughout the year, creating activity within walking distance of the hotel year-round. The entertainment district comprises an outdoor concert venue, beer gardens, multiple restaurants, and other retail and commercial space.
Results
The Hyatt Place features a sleek and modern bar and lounge, 2,000 square feet of flexible meeting space, an outdoor terrace, an oversized fitness center, and 150 stylish guestrooms, many of which will have views of the Milwaukee skyline and the new arena and entertainment district. The hotel is easily accessible via the expressway and via downtown from Juneau Street, a major east-west thoroughfare. The hotel is well-located amongst a plethora of corporate and leisure demand generators and within walking distance of the arena and entertainment district. The hotel opened in June 2018. Contributions from the hotel brand to spur development (known as “key money”) and EB-5 equity financing enhanced projected investment returns.
