Development opportunities in the Park East corridor have picked up a little bit of steam, now that all the leagal issues have been ironed out, for now.
A few weeks ago, the City put out a request for proposals on a small parcel it owns at N. Water/N. Jefferson/E. Pleasant Streets. Interested developers have until the end of March to turn in their proposals for the site.
Meanwhile, the Mandel Group continues to work on plans for a long-proposed project at the old Pfister & Vogel tannery site, along the Milwaukee River at N. Water and E. Pleasant Streets. The tannery buildings will be demolished to make way for 500 condo and apartment units, as well as 25,000 suqare feet of retail space. Being a riverfront site, it will also include a new RiverWalk segments.
Big Bend Development has been demolishing the former Milwaukee Center for Independence at N. Milwaukee Street and E. Ogden Avenue to make room for a mixed-use retail/condo/rowhouse project on that site.
Negotioations are underway for the sale of the Sydney Hih building at N. 3rd Street and W. Juneau Avenue, which is proposed to be converted into retail space and condos.
And this week, Milwaukee County is putting out a request for proposals on a 2-acre County-owned parcel--an entire block bounded by E. Ogden Avenue, N. Milwaukee, N. Jefferson and E. Lyon Streets.
The County will continue environmental testing on parcels it owns in the corridor before they are put up for sale. Results of those tests will be a factor when determing the sale price for each parcel.
Developers have been closely eyeing parcels and awaiting certain legal and political decisions (first at the City level, then at the County level) that have delayed development action up until recently. County officials anticipate the remainder of County-owned land east of the river to be up for sale by mid-2005, and the lots west of the river by March 2006.
Another development possibility still under occassional discussion is relocating Potawatomi Bingo Casino from its current site in the Menomonee Valley to a new facility inthe Park East corridor, just north of the Bradley Center. However, such a move is an extreme longshot because it depends on all sorts of approvals at all levels of government, plus the yet-unresolved gaming compact issue with the State, plus the Tribe already has plans underway for a casino/hotel expansion on the current site in the Valley.
^ This map summarizes what is in store for the Park East corridor.
^ An aerial view of the Park East corridor gives a sense of how much land was freed up when the freeway was demolished. In addition to land once occupied by the freeway, the redevelopment area includes adjacent blocks that have been underutilized for decades.
See this
Journal Sentinel article for more on the topic:
Small steps adding up for Park East - Milwaukee County to begin seeking development proposals for first 2-acre parcel Monday
***
In an effort to hel balance the 2005-2007 budget, Governor Doyle has proposed selling the Milwaukee State Office Building, a 10-story building at N. 6th and W. Wells Streets. Officials claim the building is too expensive for the State to maintain. The building, which holds about 100,000 square feet of office space in a prime Downtown location in Milwaukee's Civic Center, could sell for $5-8 million.
If the building is sold, the State would likely construct a new office building elsewhere in Downtown, probably in the Park East corridor. Another option being discussed is possibly joint-leasing space with Milwaukee County somewhere in the PabstCity development. In recent months, the County has been considering selling/demolishing its office building at N. 6th and W. State Streets (just up the block, and across the street from the State's current building) and moving those offices into the PabstCity development but no decisions have been made on those fronts yet. And yet another possibility if for the State to sell its building and then lease it back from the new owner.
The Governor's budget proposal, and thus the future of the State office building in Milwaukee, are under review by the Senate and Assembly up through this spring.
More info in the
Business Journal:
Doyle: Sell state office building - Prime downtown site could go private