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Park East developers miss second deadline, but expect success
The developers of the Park East corridor project last week struck out against their second financing deadline in eight months, but they're confident that their third shot at the $85.3 million apartment complex will produce a hit.
Last week, a July 31 deadline to start construction on the project sailed by without the co-developers, Trammell Crow Residential Inc. and Milwaukee Redevelopment Corp., securing the necessary financing. By missing the deadline, TCR/MRC Joint Venture is in technical default on its development agreement with Milwaukee County, which controls the 20-acre site north of downtown. …