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MILWAUKEE — Site preparation work has begun on a $27 million Aloft Hotel, which will be located along the Milwaukee River within the Park East Corridor of Milwaukee. The five-story hotel, which is a member of the Starwood Hotels & Resorts Worldwide Inc. brand, will feature 160 rooms and is slated for completion in November 2009. Using $1 million in Tax Incremental Financing, the city of Milwaukee, in conjunction with Milwaukee River Hotel LLC, is developing a Riverwalk segment, dockwall, public plaza and street improvements as part of the project. More than $800 million in development is already underway or has been completed within the Park East Corridor.