Gorman & Co. Secures $11M to Develop Former Pabst Building

Oregon, Wis.-based Gorman & Co. has secured commitments for $11 million from 22 Chinese investors to develop a 60,000-sq.-ft. office building in Milwaukee – the former Pabst brewery – and hopes construction can begin in spring. The investors utilized the federal government’s EB-5 program, which allows a foreign citizen to obtain a U.S. residency visa by investing at least $500,000 in a U.S. project or business that creates 10 jobs. The two-year visa can be converted into a green card, providing permanent residency privileges. The U.S. Customs and Immigration Service conducts background checks on the investors, assuring they are not laundering cash or engaging in other illegal activities. Gorman & Co. is also renovating the former Pabst Brew House into the Brew House Inn & Suites.