Sunday, October 19, 2008

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>>>


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posted by David Ray @ 12:14 AM

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