The CEO of BMC Investments will build the seven-story, 100,000-square-foot Milwaukee Place in the 200 block of Milwaukee Street.
But the high-end gym chain will land in the neighborhood eventually, according to the head of BMC Investments.
“It’s really designed for where we’re going, not necessarily where we are today,” Matt Joblon said of buying the site for a planned apartment building.
Le Colonial, which will combine Vietnamese and French cuisine, is affiliated with Le Bilboquet, the French eatery that opened nearby in 2019.
RLJ Lodging Trust paid about $301,000 per room for the 170-room hotel, which opened in 2017 as the neighborhood’s cheaper lodging.