BizTimes Real Estate Weekly

Saint John’s on the Lake held a groundbreaking ceremony last week to celebrate the start of construction of a 21-story, 88-unit expansion project. Pewaukee-based VJS Construction Services is the general contractor for the project. Continuum Architects + Planners is the architect of record working with Perkins Eastman.

Go to BizTimes Around Town to see photos of the event.

Saint John’s is a senior apartment complex located at 1840 N. Prospect Ave., on Milwaukee’s east side.

With the help of West Bend-based B.C. Ziegler and Company, Saint John’s sold $83 million in tax free municipal bonds to finance the expansion project. The tax free municipal bonds were made available through the Wisconsin Health and Educational Facilities Authority.

So far about 75 percent of the 88 apartment units in the planned expansion have been reserved. Construction for the expansion project is expected to be complete in mid-2011.