{"id":13493,"date":"2026-03-17T09:05:14","date_gmt":"2026-03-17T14:05:14","guid":{"rendered":"https:\/\/www.wisconsin.edu\/all-in-wisconsin\/?post_type=campus_story&#038;p=13493"},"modified":"2026-03-17T09:05:15","modified_gmt":"2026-03-17T14:05:15","slug":"uw-stout-school-of-management-students-propose-riverfront-hotel-model-for-milwaukees-historic-third-ward","status":"publish","type":"campus_story","link":"https:\/\/www.wisconsin.edu\/all-in-wisconsin\/story\/uw-stout-school-of-management-students-propose-riverfront-hotel-model-for-milwaukees-historic-third-ward\/","title":{"rendered":"UW-Stout School of Management students propose riverfront hotel model for Milwaukee\u2019s historic Third Ward"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.wisconsin.edu\/all-in-wisconsin\/wp-content\/uploads\/sites\/378\/2026\/03\/STO_riverfront-proposal.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"779\" height=\"435\" src=\"https:\/\/www.wisconsin.edu\/all-in-wisconsin\/wp-content\/uploads\/sites\/378\/2026\/03\/STO_riverfront-proposal.jpg\" alt=\"Photo of IREM members Alexis Brinkmoeller, Breyden Kane and Madelyn King\" class=\"wp-image-13494\" srcset=\"https:\/\/www.wisconsin.edu\/all-in-wisconsin\/wp-content\/uploads\/sites\/378\/2026\/03\/STO_riverfront-proposal.jpg 779w, https:\/\/www.wisconsin.edu\/all-in-wisconsin\/wp-content\/uploads\/sites\/378\/2026\/03\/STO_riverfront-proposal-300x168.jpg 300w, https:\/\/www.wisconsin.edu\/all-in-wisconsin\/wp-content\/uploads\/sites\/378\/2026\/03\/STO_riverfront-proposal-768x429.jpg 768w\" sizes=\"auto, (max-width: 779px) 100vw, 779px\" \/><\/a><figcaption class=\"wp-element-caption\">IREM members Alexis Brinkmoeller, Breyden Kane and Madelyn King<\/figcaption><\/figure>\n\n\n\n<p>How do you produce a comprehensive, financially feasible development plan that creates value, generates attractive returns, is feasible in today\u2019s capital markets and aligns with the long-term positioning in Milwaukee\u2019s historic Third Ward?<\/p>\n\n\n\n<p>UW-Stout&nbsp;<a href=\"https:\/\/www.uwstout.edu\/academics\/colleges-schools\/college-science-technology-engineering-mathematics-management\/school-management\" target=\"_blank\" rel=\"noreferrer noopener\">School of Management<\/a>&nbsp;students were tasked with just such a challenge recently at the Wisconsin CORE (Creation of Real Estate) Case Competition, hosted by the Commercial Association of Realtors Wisconsin and sponsored by the Milwaukee Commercial Association of Realtors.<\/p>\n\n\n\n<p>They joined eight other student teams from three Wisconsin universities in the two-week-long challenge before presenting their real estate development case to industry judges at CORE, held on Feb. 28 at Marquette University and the Wisconsin Club in Milwaukee.<\/p>\n\n\n\n<p>Students used the Harbor Yards riverfront site, a Mandel Group-owned 2.61-acre property on Water Street, selecting an appropriate mix of uses \u2013 such as apartments, condos, office, retail and hospitality \u2013 consistent with industrial \u2011mixed zoning and under 10 stories tall.\u200b<\/p>\n\n\n\n<p>After a full day of presentations and networking opportunities, UW-Stout won third place. The team \u2013 Institute of Real Estate Management (IREM) student club members \u2013 were:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Breyden Kane<\/strong>, double major in\u00a0<a href=\"https:\/\/www.uwstout.edu\/programs\/bs-hotel-restaurant-tourism-management\" target=\"_blank\" rel=\"noreferrer noopener\">hotel, restaurant and tourism management<\/a>\u00a0and\u00a0<a href=\"https:\/\/www.uwstout.edu\/programs\/bs-real-estate-property-management\" target=\"_blank\" rel=\"noreferrer noopener\">real estate property management<\/a>\u00a0from St. Paul<\/li>\n\n\n\n<li><a href=\"https:\/\/www.uwstout.edu\/about-us\/news-center\/co-op-qa-madelyn-king-four-seasons-minneapolis\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Madelyn King<\/strong><\/a>, double major in hotel, restaurant and tourism management and real estate property management from Brownsville<\/li>\n\n\n\n<li><strong>Alexis Brinkmoeller<\/strong>, double major in\u00a0<a href=\"https:\/\/www.uwstout.edu\/programs\/bs-business-administration\" target=\"_blank\" rel=\"noreferrer noopener\">business administration<\/a>\u00a0and real estate property management from Eau Claire.<\/li>\n<\/ul>\n\n\n\n<p>\u201cWe decided to do a hotel \u2013 naming it RiverFront, by Kohler \u2013 with a golf simulator, 15-hole PGA putt putt course, luxury spa, self-pour tap room, and a rooftop beer garden restaurant, inspired by the German- and Polish-based heritage of Milwaukee,\u201d Kane said.<\/p>\n\n\n\n<p>In polytechnic fashion, the competition gave students another opportunity to apply classroom simulations to a real-world project, analyzing the project from concept to completion. They completed a comprehensive proposal addressing market needs, financial feasibility, risk awareness, design and community impact.&nbsp;&nbsp;<\/p>\n\n\n\n<p>The team\u2019s analysis of the riverfront site included zoning, parcel boundaries, and environmental and infrastructure assumptions.\u200b \u201cThe capital stack, development budget, and projected returns (IRR, equity multiple and yield on cost), showed that the project is financeable in the current interest rate and capital markets environment,\u201d Kane said.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.uwstout.edu\/sites\/default\/files\/styles\/large\/public\/2026-03\/alexis_brinkmoeller_breyden_kane_and_madelyn_king_web_2.jpg?itok=_cd-Yvtd\" alt=\"Side-by-side images of students Alexis Brinkmoeller, Breyden Kane and Madelyn King presenting at a competition\" \/><\/figure>\n\n\n\n<p>Their professional deliverables included a slide deck for a 15-minute presentation with 10-minute Q&amp;A, an executive summary and a financial model.<\/p>\n\n\n\n<p>The development plan included the proposed use mix and program, phasing and timeline for construction, site planning, and market positioning relative to the Harbor District Area Plan and prior Mandel concepts.\u200b<\/p>\n\n\n\n<p>The financial model offered sources and uses, a development budget with hard and soft costs, capital structure assumptions, stabilized operating projections, return metrics, exit value, and risk and sensitivity considerations.\u200b<\/p>\n\n\n\n<p>\u201cOur Stout students\u2019 presentation offered a highly creative and feasible use of the land, integrating their experiences in hospitality and real estate management,\u201d said REPM&nbsp;<strong>Program Director Fred Prassas<\/strong>. \u201cWe are very proud of their accomplishments.<\/p>\n\n\n\n<p>\u201cCompetitions of this nature provide students with an exceptional learning opportunity,\u201d Prassas added. \u201cSuccess in this industry requires collaboration among many disciplines and these competitions give the students the opportunity to meet with professionals they will likely encounter throughout their careers.\u201d<\/p>\n\n\n\n<p>CORE, through the Commercial Association of Realtors Wisconsin, is committed to strengthening the talent pipeline and connecting students with real-world opportunities in Wisconsin\u2019s commercial real estate industry. This was its inaugural competition.<\/p>\n\n\n\n<p>Career Services\u2019 annual&nbsp;<a href=\"https:\/\/liveuwstout.sharepoint.com\/sites\/2022\/Career-Services\/Documents\/Forms\/AllItems.aspx?id=%2Fsites%2F2022%2FCareer%2DServices%2FDocuments%2FAnnual%20Employment%20Reports%2F2024%2D2025%2DFirst%2DDestination%2DReport%2Epdf&amp;parent=%2Fsites%2F2022%2FCareer%2DServices%2FDocuments%2FAnnual%20Employment%20Reports&amp;p=true&amp;ga=1\" target=\"_blank\" rel=\"noreferrer noopener\">First Destination Report<\/a>&nbsp;found that 100% of recent REPM graduates were employed or furthering their education within six months of graduation, and have an average starting salary of $56,000. UW-Stout\u2019s real estate property management program is one of only a handful of its kind in the U.S.<\/p>\n\n\n\n<p>UW-Stout\u2019s&nbsp;<a href=\"https:\/\/www.uwstout.edu\/academics\/colleges-schools\/college-science-technology-engineering-mathematics-management\/school-management\" target=\"_blank\" rel=\"noreferrer noopener\">School of Management<\/a>&nbsp;offers 20 undergraduate and graduate degrees and certificates that build students\u2019 leadership skills in business, hospitality and technology innovation, military science, and operations and management fields.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\n\n\n\n<p>Written by Abbey Goers<\/p>\n\n\n\n<p>Link to original story: <a href=\"https:\/\/www.uwstout.edu\/about-us\/news-center\/school-management-students-propose-riverfront-hotel-model-milwaukees-historic-third-ward\">https:\/\/www.uwstout.edu\/about-us\/news-center\/school-management-students-propose-riverfront-hotel-model-milwaukees-historic-third-ward<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>How do you produce a comprehensive, financially feasible development plan that creates value, generates attractive returns, is feasible in today\u2019s capital markets and aligns with the long-term positioning in Milwaukee\u2019s historic Third Ward? UW-Stout&nbsp;School of Management&nbsp;students were tasked with just such a challenge recently at the Wisconsin CORE (Creation of Real Estate) Case Competition, hosted [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":13494,"comment_status":"closed","ping_status":"closed","template":"","institution":[90],"story_category":[147,148],"class_list":["post-13493","campus_story","type-campus_story","status-publish","has-post-thumbnail","hentry","institution-uw-stout","story_category-community","story_category-economy"],"_links":{"self":[{"href":"https:\/\/www.wisconsin.edu\/all-in-wisconsin\/wp-json\/wp\/v2\/campus_story\/13493","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.wisconsin.edu\/all-in-wisconsin\/wp-json\/wp\/v2\/campus_story"}],"about":[{"href":"https:\/\/www.wisconsin.edu\/all-in-wisconsin\/wp-json\/wp\/v2\/types\/campus_story"}],"author":[{"embeddable":true,"href":"https:\/\/www.wisconsin.edu\/all-in-wisconsin\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.wisconsin.edu\/all-in-wisconsin\/wp-json\/wp\/v2\/comments?post=13493"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.wisconsin.edu\/all-in-wisconsin\/wp-json\/wp\/v2\/media\/13494"}],"wp:attachment":[{"href":"https:\/\/www.wisconsin.edu\/all-in-wisconsin\/wp-json\/wp\/v2\/media?parent=13493"}],"wp:term":[{"taxonomy":"institution","embeddable":true,"href":"https:\/\/www.wisconsin.edu\/all-in-wisconsin\/wp-json\/wp\/v2\/institution?post=13493"},{"taxonomy":"story_category","embeddable":true,"href":"https:\/\/www.wisconsin.edu\/all-in-wisconsin\/wp-json\/wp\/v2\/story_category?post=13493"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}