The Redevelopment Authority of the City of Milwaukee today approved a resolution allowing Milwaukee School of Engineering to obtain ownership of the former Staybridge Suites building at 1150 N. Water St. in downtown Milwaukee. An anonymous donor has made this opportunity possible. The transaction is planned to close by July 6, with construction and renovation work to begin as soon as possible thereafter.
MSOE will use the building for an apartment-style residence for upperclassmen, graduate students and faculty who wish to live on campus. There will be approximately 150 units, ranging from studio apartments to 1- and 2-bedroom units. The ground floor of the building will remain as retail space, generating tax revenue for the city. The second and third floors of the building will be used for resident parking with 62 spaces. The university plans to have units available for students by the start of the 2014-15 academic year.
"We want to continue adding life to downtown Milwaukee. Our parking complex/athletic field will be completed later this summer, giving our students and visitors a place to park while they enjoy everything happening in our neighborhood," said Viets. "This new residence will be an attractive option for upperclassmen who wish to remain downtown. It will also attract graduate students, and faculty to the area. The building and its residents will be a great asset to the city."
MSOE is an independent, non-profit university with about 2,500 students celebrating its 110th anniversary. MSOE offers 20 bachelor’s degrees and nine master’s degrees in engineering, business, mathematics and nursing. The university has a national academic reputation; longstanding ties to business and industry; dedicated professors with real-world experience; a 94% placement rate; and the highest average starting and mid-career salaries of any Wisconsin university according to PayScale Inc. MSOE graduates are well-rounded, technologically experienced and highly productive professionals and leaders.