The Milwaukee Journal Sentinel: Hoan analysis recommends land roadway - Development valued at $5.7 billion
The Department of Transportation (DOT) is currently reviewing several options for the Hoan Bridge.
Between 2010 and 2013, the DOT is planning to replace the existing roadway sitting on top of the bridge. Replacing the 2.5 mile roadway is expected to cost more than $200 million.
Another option the DOT is discussing involves razing the bridge and replacing it with a four-lane boulevard. The DOT paid $175,000 to HNTB to investigate the benefits for this option. State Transportation Secretary, Frank Busalacchi, appears to be in favor of this plan.
Financially, this alternative makes more sense. According to the HNTB report, it would cost $80 million less to replace the Hoan Bridge with a surface-grade boulevard.
The HNTB report also suggests that the buildable land, roughly 500 acres, below the bridge is valued at $5.7 billion and that roughly 8,090 jobs would be created through commercial development. The report also suggests that razing the bridge would also free up land for public use (e.g. marina, parks, bike and pedestrian paths, etc.). The DOT and Busalacchi appears to support this option because of the likelihood of increasing land values and tax base.
Does any of this sound familiar? How is the Park East Freeway Redevelopment Plan progressing? The Park East had so much promise and potential yet it is so disappointing and discouraging. At least the land freed up from the razing of the Park East is useable, buildable, and attractive. Who would pay $500,000 to live on the lake with views of the sewerage treatment plant and Jones Island? In addition, I can’t imagine the costs involved in cleaning up the land from environmental hazards around Jones Island, treatment plant, and Port of Milwaukee.
Would you consider purchasing a condo or operating a business in this area?
Tom Held, writer for The Milwaukee Journal Sentinel, writes more about the HNTB report and the reasons why the DOT is supporting this option.
Click here to read about the future of the Hoan Bridge>>>-----
Labels: Real Estate
The Business Journal of Milwaukee: Credit malaise postpones projects around Bradley Center
What is happening with the Park East? This is a question I hear on a regular basis. The volatility of the stock and credit markets may be one reason why nothing has been built on this prime piece of real estate. All of the projects proposed for the Park East have been postponed by at least a year because of the tight credit markets. Many real estate developers are having a difficult time securing money in this market.
Rich Kirchen, writer for The Business Journal of Milwaukee, features two Park East projects that have experienced such delays.
Gatehouse Capital, lead developer for The Residences at Hotel Palomar, is proposing to build a hotel-condo at a cost of $145 million. Principals for this project were hoping to break ground in November. Now, they are hoping to break ground in later 2009 or early 2010.
The Bradley Center’s Board of Directors hired Lauth Property Group, an Indianapolis-based firm, to propose a 500,000-square-foot retail and entertainment center that will be built just north of the arena. Despite the delay, Lauth is still focused on planning for the development and meeting with city officials and possible retailers. Similar to Hotel Palomar, Lauth is now expecting to break ground on this entertainment complex in 2010.
I don’t question the reasoning for tearing down the Park East Freeway Spur. I feel that the spur alienated the neighborhoods located just north of downtown which limited their ability to add value to the city. Since the razing of the spur, Halyard Park, Brewers Hill, and the “Bronzeville” District have grown into some of the most desired, affordable neighborhoods to live and work. The Park East will be developed some day. With its proximity to I-43, Bradley Center, downtown, and “The Brewery” neighborhood, this area will become a destination by itself. In real estate, timing is everything. Unfortunately, this brilliant plan came a few years too late.
What do the delays mean to downtown Milwaukee?
The Park East was supposed to be a destination by itself. With its proximity to the Bradley Center, this newly-created area would have been an economic powerhouse. It still can be a success, but we need to see ground-breaking events. Without any ground-breaking events, this prime real estate will continue to sit dormant.
Most condo sellers in downtown are not impacted by the delays of the Park East hotel-condos. The hotel-condos of the Park East are in a class by itself. At a starting price of $400-per-square-foot, there isn't a market already established to compete. However, I believe these delays will help other high-end luxury projects, such as The Breakwater, Terrace Row, Kilbourn Tower, and University Club.
Kirchen explains the reason for the Park East delays and the impact the delays have on two key projects. Click here to read the entire article>>>
-----
Labels: Economy
The Milwaukee Journal Sentinel: Pieces of Eight site could become UWM facility
One would think that a reputable seafood restaurant would have done well on the shores of Lake Michigan. Pieces of Eight closed. And most recently, Harbor 500, which occupied the same site also closed.
So what’s next for this troubled site? University of Wisconsin-Milwaukee’s (UWM) Chancellor, Carlos Santiago, has a suggestion. Why not create a facility that will showcase Milwaukee as a leader in the water-related industry?
The region’s main economic development agency, Milwaukee 7, identified southeastern Wisconsin’s proximity to Lake Michigan as one of its under-utilized assets.
Santiago has proposed the construction of a UWM facility on the site that would feature its new water technology program. This new facility will house UWM’s new graduate-level School of Freshwater Sciences which still needs legislative approval.
This new facility could also house other related businesses. UWM’s Great Lakes WATER Institute performs ecological research on the Great Lakes. The Milwaukee 7 is also considering a new agency to focus on water-related business which could also be located on this site.
Santiago’s idea is generating support from several key players in government and business. Philanthropist Michael Cudahy is negotiating to purchase the Pieces of Eight property which he plans to turn over to the university to achieve this purpose.
Tom Daykin, writer for The Milwaukee Journal Sentinel, provides more details regarding Santiago’s plan for showcasing Milwaukee as a leader in the water-related industry. Click here to read how this facility will impact Milwaukee’s economic position>>>
-----
Labels: Economy
The Milwaukee Journal Sentinel: Marcus still has plans for downtown movie theater, president says
Marcus Corporation has been considering a downtown movie theater for years and remains hopeful that a theater will be constructed in this market.
According to Tom Daykin, writer for The Milwaukee Journal Sentinel, MLG Development Inc. stated that Marcus had chosen a site that would include a 60,000-square-foot theater and entertainment center. Marcus has extended a purchase option on a county-owned parcel in the Park East.
Click here to read about Marcus Corporation’s plans to construct a downtown movie theater>>>-----
Labels: Economy
Current Listings
The Regency House #2305 - $175,000
Fantastic 23rd floor condo is in move-in condition, has been updated throughout, and has some of the best views of gorgeous sunsets and the city's skyline. Regency is located within walking distance to Lake Michigan, parks, and museums. Enjoy the neutral decor, updated kitchen and bathroom, and newer carpeting. The newly-remodeled kitchen features hardwood floors, granite countertops, stainless-steel appliances, stainless-steel under-mounted sink, and contemporary lighting. Kitchen opens up to Great Room with breakfast bar. Bathroom features ceramic tile and newer vanity. Luxury living at its finest - concierge, on-site security, heated outdoor pool, clubhouse, fitness center, and valet parking. HOA dues include all this plus heat, central air, and hot water. Regency is a pet-friendly association. Click here to read more about this condo in the sky>>>
Re-Listed & Improved! Western Leather Lofts #109 - $240,900
Are you looking for a truly, urban experience? Then look no further than this spacious, two-story warehouse-lofted condo. This amazing unit features exposed Cream-City Brick, original wood post and beam construction, and concrete-heated floors (condo dues include heat!). Structural steel open staircase follows a two-story Cream-City Brick wall and flows to two spacious bedrooms, den, and loft. Sunlight floods the entire condo through its six oversized windows. Stainless-steel appliances, custom birch cabinets, and large island with breakfast bar complete the well-thought-out kitchen. The full bathroom features Cream-City Brick, whirlpool, and heated towel rack. Other conveniences include in-unit laundry and one indoor parking space. Western Leather Lofts is a pet-friendly association. Free Home Warranty! Click here to read more about this warehouse-lofted condo>>>
New Listing! Riverbridge #404 - $289,900
Are you looking for a condo that you can simply move in? This top-floor, riverfront unit is one you won’t want to miss. Entertain guests in the spacious great room that features hardwood floors. The gourmet chef will appreciate the granite countertops, stainless-steel appliances, under-mounted stainless-steel sink, and convenient pull-out shelves. The split bedroom design offers privacy. Spread out in the master bathroom that features ceramic tile, double-vanity, whirlpool tub, and shower stall. Everything is done for you – from the freshly painted walls to the custom window treatments. Walk to your favorite East Side establishments (“very walkable” per walk-score.com) or relax on your private balcony that overlooks the Milwaukee River. Riverbridge is a pet-friendly association! Click here to read more about this well-maintained, spacious condo>>>
For more information about these featured properties, please contact me at (414) 412-7980 or e-mail at dray@shorewest.com.
-----
Labels: Real Estate
Downtown Milwaukee Events: Through November 30, 2008
Dance:
So You Think You Can Dance Tour 2008 – October 21 – Bradley Center
The Milwaukee Ballet: The Sleeping Beauty – October 23-26 – Marcus Center for the Performing Arts
Have a Seat – November 7-9 – Danceworks
Festivals:
Milwaukee Holiday Lights Festival Kickoff Extravaganza – November 20 – Pere Marquette Park
Milwaukee Holiday Lights Festival – Nov. 20 thru Jan. 4 – Downtown Milwaukee
Milwaukee Holiday Parade – November 22 – Downtown Milwaukee
Film:
Warren Miller’s Children of Winter – October 22 – Pabst Theater
Miracle on 34th Street – October 29 – Charles Allis Art Museum
Phantom of the Opera – October 29 – Oriental Theater
Christmas in Connecticut – November 12 - Charles Allis Art Museum
A Christmas Carol – November 26 – Charles Allis Art Museum
Santa vs. The Snowman – November 28-January 4- Humphrey/IMAX Dome Theater
Mysteries of the Great Lakes – Through March 9, 2009 – Humphrey/IMAX Dome Theater
Halloween:
Rocky Horror Picture Show – October 25 – Oriental Theatre
Members Night – October 30 – Discovery World
The War of the Worlds – October 30 – Discovery World
Not So Scary Halloween – October 30-November 2 – Betty Brinn Children’s Museum
Little Monster Bash – October 31 - Betty Brinn Children’s Museum
Wisconsin AIDS Fund’s Absolutely the Best Party 13 – Historic Third Ward
Spooky Skies – Through October 31 – Milwaukee Public Museum
Museum Exhibits:
Student Exhibit: Thinking Outside the Treasure Chest – Through April 4, 2009 – Milwaukee Public Museum
Titanic: The Artifact Exhibition – Through May 25, 2009 – Milwaukee Public Museum
Numismatics! Selections from the MPM Collection – Through August 15, 2009 – Milwaukee Public Museum
Music:
Blackest of Black Tour – October 21 – The Rave
The Beach Boys – October 21-22 - Potawatomi Bingo Casino
New Kids On The Block – October 22 – Bradley Center
The Wood Brothers – October 22 – The Rave
Yelle – October 22 – Turner Hall Ballroom
The Roots – October 23 – The Rave
The Paul Silbergleit Quartet – October 23 - Wisconsin Conservatory of Music
Local H – October 23 – Turner Hall Ballroom
Douglas Acres – October 24 – Shank Hall
Gary Louris – October 24 – Turner Hall Ballroom
Mushroomhead – October 24 – The Rave
The Gufs – October 25 – Turner Hall Ballroom
Shiny Toy Guns – October 25 – The Rave
Pat McCurdy – October 25 – Shank Hall
Alternate Routes – October 26 – Shank Hall
Of Montreal – October 26 – The Pabst Theater
Jon McLaughlin – October 28 – The Rave
Nikka Costa – October 29 – The Rave
Yeasayer – October 29 – Turner Hall Ballroom
Conor Oberst & The Mystic Valley Band – October 30 - Turner Hall Ballroom
Joseph Arthur and the Lonely Astronauts – October 30 – Shank Hall
A Happy Halloween – October 31 – Turner Hall Ballroom
B.B. King – October 31 – Riverside Theater
GWAR – October 31 – The Rave
Trampled by Turtles – October 31 – Shank Hall
Jason Isbell and the 400 Unit – November 1 – Shank Hall
Margot & The Nuclear So and So's – November 1 – Turner Hall Ballroom
The Academy Is… - November 1 – The Rave
Chicago – November 2 – Riverside Theater
Jeffrey Foucault – November 2 – Shank Hall
Crosby & Nash – November 3 – Riverside Theater
FM 102/1 Ballot Ball feat. Underoath – November 4 – The Rave
Girl Talk – November 4 – Turner Hall Ballroom
Kings of Leon – November 5 – The Rave
Gang Gang Dance + Marnie Stern – November 5 – Turner Hall Ballroom
Senses Fail – November 6 – The Rave
Every Time I Die – November 7 – Turner Hall Ballroom
Carrie Rodriguez – November 7 – The Pabst Theater
The Gourds – November 7 – Shank Hall
Widespread Panic – November 7 – Riverside Theater
Northern Room – November 8 – Turner Hall Ballroom
Amos Lee – November 8 – The Pabst Theater
Rumbleseat – November 8 – Shank Hall
Widespread Panic – November 8-9 – Riverside Theater
Bob Schneider – November 9 – Shank Hall
The Mighty Underdogs – November 9 - Turner Hall Ballroom
Down – November 11 – The Rave
Avenged Sevenfold – November 12 – The Rave
The Blasters – November 12 – Shank Hall
Tom Morello The Nightwatchman – November 12 – Turner Hall Ballroom
Gov’t Mule – November 13 – The Rave
All Time Low – November 14 – The Rave
My Mourning Belle – November 14 – Shank Hall
Umphrey's McGee – November 14 – The Rave
Dredg – November 15 – The Rave
Southbound – November 15 – Shank Hall
The New Frontiers – November 16 – Shank Hall
Dolly Parton – November 17 – Riverside Theater
Rise Against – November 17 – The Rave
Greg Laswell – November 18 – Shank Hall
Steel Train – November 18 – The Rave
The Medic Droid – November 19 – The Rave
Secondhand Serenade – November 19 – The Rave
Ingram Hill – November 19 – Shank Hall
Fastball – November 20 – Shank Hall
Jason Mraz – November 21 – The Rave
STS9 – November 21 – The Rave
Brother Ali – November 22 – Turner Hall Ballroom
Dir En Grey – November 22 – The Rave
JJ Grey and Mofro – November 22 – Shank Hall
Neil Diamond – November 24 – Bradley Center
The Toasters – November 25 – Turner Hall Ballroom
The Producers – November 28-January 4 - Broadway Theatre Center
Pat McCurdy – November 28 – Shank Hall
Yes – November 29 – Riverside Theater
Other Downtown Area Events:
MMAC: Business After Hours – November 12 – War Memorial Center
LERA Second Annual One Day Conference – November 13 – Hyatt Regency Milwaukee
2008 World Tour of Gymnastics Superstars – November 13 – Bradley Center
Night of the Titanic – Through May 25, 2009 – Milwaukee Public Museum
Theater:
Triple Espresso – Through November 16 – Marcus Center for the Performing Arts
The Persians – October 22-26, 29-31, November 1 – Broadway Theatre Center
Charlotte's Web – October 25 – Marcus Center for the Performing Arts
Eurydice – October 28 – Milwaukee Repertory Theater
Radio City Christmas Spectacular – November 13-16 – U.S. Cellular Arena
The Cherry Orchard – November 13-16, 19-23 – Marquette University
The Daly News – November 13-16, 19-23, 26, 28-30 – Broadway Theatre Center
Madama Butterfly – November 21-23 – Marcus Center for the Performing Arts
Sesame Street Live - Elmo's Green Thumb – November 28-30 – Bradley Center
Visual Arts:
Stop. Look. Listen: An Exhibition of Video Works – Through November 14 – Haggerty Museum of Art
Big and Little: Paintings by Susan Diehl – Through November 23 – Charles Allis Art Museum
Viking Bronzes to American Arts & Crafts: A Tradition Transplanted – Through November 30 – Villa Terrace Decorative Arts Museum
Act / React: Interactive Installation Art – Through January 11 – Milwaukee Art Museum
-----
Labels: Events
