Press Release: loan closing and ground breaking
For Release on June 14th, 2022 Contact: Adam Draeger, Founder
Inventors Brewpub announces groundbreaking for the restaurant, brewery and event space at 305 E. Washington Street in Port Washington. The groundbreaking ceremony will take place Thursday July 14, 2022 at 4PM. Founder of Inventors Brewpub Adam Draeger comments “Downtown Port Washington is currently without a large meeting space for events like wedding receptions, conferences and indoor concerts. The loss of the Viking Room, Newport Shores and other iconic Port Washington venues has left a hole in the community and our current facility isn’t equipped to meet all the apparent needs.”
TBF Development LLC and Inventors Brewpub LLC will be developing the building with Striegel-Agacki Studio (architect, Milwaukee/L.A.) and Peridot Construction Management (G.C., West Milwaukee). Funding assistance is being provided by CIBM (banking lender, Elm Grove, WI), City of Port Washington for the TIF and RLF (revolving loan fund), Wisconsin WEDC CDI Grant, and SBA/WBD (Wisconsin Business Development, Madison, WI).
The new 27,700 sq. ft. two-story facility will have a 10 barrel craft brewery, expanded kitchen and food menu for a 240 seat restaurant as well as 250 seat event space on the lower level and additional 80 seats on the mezzanine level. Approximately 8000 sqft will be available for tenant office space on the 2nd level.
The new Inventors Brewpub facility will increase the assessed valuation of the property
by approximately $5.8 million, boosting city tax revenues proportionately, creating more jobs and drawing thousands more people to Downtown Port on a year-round basis.
Completion of the project and opening of the new space is targeted for Spring 2023.