Afsin Ghazi, founder Ghazi Corporation, said the stores should be completed between 18 months and 2 1/2 years, and the residential and hotel towers will be completed later on.,”The Shops of Grand Avenue and the Hilton Milwaukee City Center will have a new neighbor this spring when construction begins on a 29-story residential tower and 150,000-square foot entertainment center at 401 W. Wisconsin Ave.

Afshin Ghazi, founder of Ghazi Company, a North Carolina-based real estate company, said the retail center should be completed in the next 18 months to two and a half years, with the residential and hotel towers to be completed later in the process.

The $150 to $200 million project, commonly referred to as the 401 W. Wells project or Project Catalyst, will include a hotel, luxury apartments and condominiums, retail shops, Big City Bowl and restaurants, Ghazi said.

Ghazi said his company is considering working with Noble Investment Group, an Atlanta-based real estate firm, on the proposed 13-story hotel tower. A list of proposed restaurants and stores has not been released.

Alderman Bob Bauman, of the 4th District, which includes downtown and Marquette, said Ghazi Co. has discussed plans for the project with the city for a year and a half.

He said the city has granted the Ghazi Co. an option to purchase the land for the project for $1, but the sale is contingent on the Common Council approving the plans for the site. Bauman said the process generally takes six to nine months to complete. However, Ghazi could speed the process up by bringing the plans to the council earlier, Bauman said.

"We are not going to sell prime real estate for a dollar without citizens getting their money's worth from the project," Bauman said.

The North Carolina real estate investor chose the project because of Milwaukee's high energy, general cleanliness and sports arenas, Ghazi said.

Ghazi said he hopes to use the project to bring more energy to Milwaukee's entertainment district.

"We see this as icing on the cake for the downtown area," Ghazi said.

Bauman said he hopes the project will attract more people to the west side of downtown. He said the project would provide more hotels, residential space and entertainment. The additions, Bauman added, would appeal to Marquette students.

"This is great for Marquette students because it will bring a lot of popular venues to this side of the city," Bauman said.

Lauren Gilbert, a junior in the College of Health Sciences, said she does not see a need for more restaurants in the downtown area.

"All this will do is take away the historic feel of downtown," Gilbert said.

The owners of the Hilton and Grand Avenue are supportive of the project, Ghazi said, because the businesses will complement each other, rather than compete.

Bauman said he believes the project may push Grand Avenue to renovate and attract new stores.

He said has not heard of any opposition to the project, but it could potentially arise if existing entertainment venues see a threat once the proposed venues are revealed.

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