Construction of the $420-million expansion of the Wisconsin Center in Milwaukee, the state’s largest convention center, is moving forward nearly a year after issues related to the Covid-19 pandemic put it on hold.
The project nearly doubles the size of the center by adding 112,000 sq ft and it came to a halt in April 2020 due to uncertainty in the bond market and the loss of sales tax revenue in the pandemic-devastated travel and hospitality industries. Now, with hopes that the convention and travel industry will return in the not-too-distant future, the expansion has received the green light to proceed from the Wisconsin Center District, a state-created agency that operates the convention center, and which is selling the bonds financing it.
“The bond sale closed in mid-December 2020, and the funds were transferred to the trustee. The transaction is complete and repayment begins in 2028,” said Sarah Maio, vice president of marketing and communications for the WCD.
The WCD’s board relied on information provided by HVS Global Hospitality Services, a consulting firm based in Westbury, NY, to make the decision to move forward.
For full article - https://www.enr.com/articles/51227-postponed-by-pandemic-milwaukees-wisconsin-center-expansion-is-back-on-the-schedule