Economy & Business
11:31 am
Mon April 7, 2014

Former Downtown Office Building May House New Apartments

A developer may bring new housing to the former Blue Cross/Blue Shiled building (background left).
A developer may bring new housing to the former Blue Cross/Blue Shiled building (background left).

A former insurance company headquarters in downtown Milwaukee may be transformed into new apartments.

City officials say a Chicago firm wants to convert the old 11-story-tall Blue Cross/Blue Shield building at 4th and Michigan into apartments.

Downtown Neighbors Association's Claude Krawczyk says if new apartments materialize, they could energize all of downtown.

“You know I understand sometimes these projects are announced and they don’t work, so I’m hoping this one is successful,” Krawczyk says.

Several other developers are reportedly contemplating additional apartment units in downtown Milwaukee, which would hundreds of new units - if plans materialize.

Krawczyk says there may be oversaturation if all of the plans come together. Still, he thinks downtown could succeed with the new housing because of changing tastes in housing.

“The younger generation wants to live where the action is, they want to live downtown,” Krawczyk says.

According to Milwaukee’s Department of City Development, the company interested in converting the former Blue Cross/Blue Shield headquarters into apartments, has not asked the city for financial help or has released drawings.