A Milwaukee-area brewmaster with West Coast experience plans to open a new craft brewery, tasting room and beer garden in the Menomonee Valley.

Third Space Brewing LLC was approved for a $150,000 loan from the Milwaukee Economic Development Corp. for equipment and working capital to start the project. In addition, developer Steve Looft with Cream City LLC received $325,000 loan to help with the renovation of the property, which has been vacant for about 20 years.

The total project is expected to cost $2.8 million to renovate the old Geuder, Paeschke & Frey tinware manufacturing facilities at 1505 W. St. Paul Ave. BMO Harris is the primary lender for the renovation, and First Bank Financial Centre is the primary lender for the brewery.

Kevin Wright, owner and brewmaster, said many other stakeholders in the Menomonee Valley have reached out to him in support of his plans.

“We feel it’s a good project because it’s revitalizing a building that’s been abandoned for a long time, and it’s bringing in a business that will create jobs and bring attention to the neighborhood,” Wright said.

Third Space Brewing is the second craft brewery trying to open in the Menomonee Valley, along with City Lights Brewing Co.