Northwestern Mutual announced today the company is building a 33-story, more than $100 million real estate development on the block surrounded by North Van Buren, North Jackson, East Mason and East Wells streets. 

The newly announced structure will include a 25-story residential high-rise featuring 308 high-end apartment units and 16 penthouse units, eight stories of parking garage space for use by both Northwestern Mutual employees and the public, a plaza on the corner of Mason and Van Buren, and ground-floor retail space along Mason, Jackson and Van Buren. 

"Northwestern Mutual believes more strongly than ever in Milwaukee and the vibrancy of our city," said Tom Zale, vice president and head of Northwestern Mutual Real Estate, the company’s real estate arm and one of the largest such investors in the nation. "That’s why we’re creating a destination for future residents looking to live, work and play in the heart of an exciting city while providing convenient parking for our growing employee base."

Demolition of the current site – including the Vermont apartments at 610 E. Mason St. – will begin in January, while construction will begin in March with the estimated completion and occupation date pegged for spring of 2018.