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New $89 million Milwaukee Symphony development a major economic catalyst for downtown

7/25/2018

 
MMAC affiliates play key role in redevelopment of Grand Theatre, Wisconsin Ave.

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Three MMAC affiliates – the Milwaukee Development Corp. (MDC), the Milwaukee Urban Strategic Investment Corp. (MUSIC) and the Wisconsin Avenue Milwaukee Development Corp. – have played significant roles in the Milwaukee Symphony Orchestra’s efforts to redevelop the Grand Theatre into its new home, working with the organization to purchase and secure control of the cinema and neighboring properties.
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The $89 million project at 2nd Street and Wisconsin Avenue, named “The Milwaukee Symphony Center,” will transform the former Grand Theatre into the symphony’s new concert hall, and combine an adjacent office building and parking lots into the development. The hall is expected to open in the second half of 2020. An official groundbreaking event was held on June 21.
The theatre, which opened in 1931, is a historic landmark that will be expanded to the north and east to make room for a larger stage, loading docks, dressing rooms and other amenities. Providing renovation cost savings are $17 million in state and federal historic tax credits. When remodeled, the iconic building will be a catalyst for economic development as a major asset within Milwaukee's cultural, social and business communities.

In addition to its own impact on downtown’s west side, the Grand Theatre's redevelopment will also help other nearby projects, including the Grand Avenue's conversion that is underway across the street. MDC is supporting the redevelopment of the Shops of Grand Avenue, investing $2.3 million to help repurpose the mall into mixed use office, residential and retail space.

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  • JOIN
  • Membership
    • The benefits of joining
    • Member directory >
      • Member Spotlights
      • Talent Solutions Directory
    • What we do >
      • Talent >
        • Ranking Milwaukee County Schools
        • Education recommendations
        • Technology Education & Literacy in Schools (TEALS)
        • Career-based learning experiences
      • Growth
      • Livability
      • Equity
      • Peer metro comparison
    • Cost saving programs >
      • Health insurance plan
      • Office supply discount program
    • Events >
      • 2021 All Member Meeting
      • Diversity, Equity & Inclusion Summit
      • Talent Solution Series
      • Emerging Leaders Series
      • Global Business Insights Series
      • Member Orientation
      • Replay: The Business of MKE Series
      • Replay: Race Bridge Series
    • For members only >
      • Fall 2022 Impact Report
      • Sponsorship
      • Advertising
    • Need more info?
  • Networks
    • Leadership Council
    • President's Huddle
    • Executive roundtable program
    • FUEL Milwaukee for young professionals
    • Future 50 Awards Program
    • Networking Forum for referrals
    • Region of Choice Initiative
    • Roundtables for high-growth companies
    • World Trade Association
  • Advocacy
    • 2021-2022 Legislative Scorecard >
      • Senate Votes
      • Assembly Votes
    • Recent Legislative Wins
    • Funding Local Governments
    • Miller Park economic impact study
    • Wisconsin State Legislature
    • K-12 Education Recommendations
  • Economic Development
    • Milwaukee 7 Partnership for Economic Development
    • MKE Venture Mentoring Service
    • Milwaukee Development Corp. >
      • Rebuild & Revitalize Program
    • Milwaukee Urban Strategic Investment Corp. (MUSIC)
    • Milwaukee EB-5 Visa program
    • Starting a business >
      • BizStarts
      • New business planning guide
    • More about Milwaukee
  • Metro MKE
    • 2023 Navigate Business MKE
    • Business outlook survey
    • Economic trends
    • Local media listings
    • Major employers in metro Milwaukee
    • Metro Milwaukee demographics
    • Order a publication
    • Relocating a business
  • About
    • Board of directors
    • Career Opportunities at MMAC
    • Staff
    • Milwaukee Commerce magazine
    • Press releases
    • Members of the media >
      • Recent Media Coverage
    • Scholarships for minority students