Downtown Milwaukee lost out to suburban Wauwatosa for GE Medical's new headquarters due to excessive costs:
- A smaller site limits the amount of land available for storage of equipment/materials and staging areas during the construction process.
- A smaller site means the building must be built upwards, rather than outwards--taller buildings costs more money to build.
- A taller building means stricter building and fire safety codes, thereby increasing the cost of building.
- Soil conditions near the Downtown site require more expensive foundation work.
- A Downtown site requires a multi-level parking garage, making the building more expensive.
The City refused GE Medical's request for a subsidy to cover a $43 million parking structure. Such a high figure was too much for the City to finance. Such a subsidy could create a precedent for other developers looking for massively expensive handouts too, at taxpayer's expense.
See the
Journal Sentinel article for more details:
High cost doomed downtown site for GE Medical - City wouldn't OK $43 million for parking structure
Changes are brewing with PabstCity, as demolition work will commence this spring. Some of the more modern and unusable buildings in the former brewery complex will come down to make room for new construction.
Developers have also decided to de-emphasize a few of the entertainment-based features, and focus some more attention on residential units.
Plans for a 2800-seat outdoor amphiateater have been scrapped, as developers realized it would have competed with other performance venues in and around Downtown. Plans for an ice skating rink have melted away, as well.
Here are the latest stats for PabstCity:
- Housing (447,000 sqft): 360 apartments, 190 condominiums.
The apartments are expected to be especially attractive to students attending MATC, MSOE, and Marquette University, all of which are nearby.
- Office (55,000 sqft)
- Retail and entertainment (450,000 sqft)
Prospective tenants so far include a House of Blues restaurant/nightclub, Sega GameWorks arcade/restaurant/bar, Hofbrauhaus microbrewery and restaurant, a museum of beer and brewing, and a 14-18 screen movie theater. Negotiatins are still in progress.
Check out the
Journal Sentinel article for more:
PabstCity to focus more on condos - Plans for amphitheater, ice rink dropped