Over 100 invited guests gathered to mark the addition of the Aloft Hotel to Milwaukee’s river walk, during a ribbon cutting ceremony Thursday, December 17th 2009. Distinguished speakers included Department of City Development Commissioner Rocky Marcoux, Alderman Nik Kovac, Antonio Riley of the Wisconsin Housing and Economic Development Authority and Aloft officials.
The Aloft Hotel- Milwaukee is a pending project in FirstPathway Partners (FPP) EB5 fund portfolio. “The Aloft project has the perfect combination of investors, underwriters and management, combined with city, county, state and federal government financial support. It creates a big win for the City of Milwaukee.” Commented Bob Kraft CEO of FirstPathway Partners.
The Aloft, a brand of Starwood Hotels & Resorts Worldwide, Inc. is located downtown at 1230 N. Old World Third St., in the Park East corridor. It is the first Aloft location in southeastern Wisconsin. The completed five-story, 160-room hotel in downtown Milwaukee features 5,000 square feet of meeting space, a fitness center, an indoor pool overlooking the riverwalk and the Wxyz Bar in the lobby/lounge area. Nearby attractions include the Milwaukee River, The Bradley Center (home of the Milwaukee Bucks) and trendy local bars/restaurants.
“(The Aloft) brings with it the much-needed concept of affordable, chic accommodations for the contemporary business traveler and vacationer.” Dave Johnson, President and CEO of Aimbridge Hospitality “We are pleased to introduce Starwood’s newest urban-boutique lifestyle brand to a market that has been greatly underserved.”
According to FPP’s USCIS approved job creation methodology, The Aloft Hotel will create 471 direct and indirect jobs. “FPP is proud to have this internationally recognized property in its EB5 Citizenship Fund portfolio,” – Bob Kraft.
The Grand Opening is to be held in January of 2010.