A rapidly deteriorating, historic department store building built in the 1880s needed new life. Where other developers saw great risk, Irgens and project partner, Williams Development Corporation, saw great potential. The team put together a complicated financing package that included a combination of tax incremental financing (TIF), conventional financing, private investments and historic tax credits. A complete building transformation ensued and the “white elephant of downtown Milwaukee” as it was known, was transformed into a highly successful, 400,000 square foot, mixed-use property that became the catalyst for the downtown area resurgence.
“It is not enough to say Milwaukee’s downtown renaissance was reinforced by the ASQ Center. It originated with it.”