Wisconsin
Northwestern Mutual on February 2 announced plans to invest more than $500 million in its North Office Building in downtown Milwaukee. The plan, which includes enhanced amenities, events space and more public engagement via a pedestrian plaza, is “contingent on City of Milwaukee approval of a tax increment financing (TIF) plan that will bring millions of dollars in additional property tax revenue to the City,” the company said. “We are doubling down on our Milwaukee campus by investing in the future of the workplace for Northwestern Mutual and a thriving downtown community,” said Northwestern Mutual Chairman, President and CEO John Schlifske. The building plan calls for nearly 2,000 employees to be gradually relocated from the company’s campus in Franklin (located on the city’s southwestern perimeter), in addition to providing space for organic growth. Pending City of Milwaukee approvals, construction could begin as early as fall 2023, with potential occupancy in 2027. As for the Franklin campus, “the company has no immediate plans to sell or lease the buildings, as employees will continue to operate from the Franklin location for three to five years,” the company said. However, “the company anticipates the property will be highly desirable to a future company seeking Class A office space.”
New York
Samson Stages on February 1 announced it would build a new 330,000-sq.-ft. studios and soundstages complex on the waterfront in Red Hook, Brooklyn, on the current site of Sunshine Lighting. The $400 million project includes a public park. “Designed by BIG-Bjarke Ingels Group, the new Samson Stages Red Hook Studio is envisioned as a dynamic vertical village,” the company said, “where the building structure is created from the stacking of eight stages.” “The new addition to Samson Stages will create jobs, will give the neighborhood a new waterfront park, and will continue to make New York the center of TV and film production," said Sam Geiger, co-founder and CEO of Samson Stages.
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