Clarity. Consistency. Cooperation.
In 2013, following the advice of the business and residential communities, Milwaukee County and the City of Milwaukee partnered to promote cooperation and devise a plan to bring jobs and vitality to the Park East Corridor—a plan, in fact, that is being implemented today.
The panel that reviews all RFPs includes the perspectives and expertise of commercial real estate professionals, business leaders, community leaders, as well as County Economic Development and Department of City Development officials. Together, they have rebranded and are marketing the corridor, clarified the RFP process, developed broker incentives and identified a primary point of contact for interested brokers, developers and investors.
In addition, the City and County have partnered with the Commercial Association of REALTORS® Wisconsin (CARW), a trade association representing nearly 600 members from 200 Wisconsin businesses, including REALTORS®, accountants, appraisers, architects, attorneys, bankers, builders, contractors, developers, environmental specialists, title insurance companies and other industry related businesses. Through this relationship, CARW will manage ongoing marketing, list available properties in nationwide real estate databases, and field and respond to initial inquiries about available Park East parcels.
Park East Redevelopment Timeline:
- 1999: Milwaukee Downtown Plan identifies 13 catalytic redevelopment projects, including Park East redevelopment.
- 1999:Milwaukee Downtown Plan approved.
- 1999:City of Milwaukee enters cooperative agreement with County and State to begin planning and engineering for the removal and replacement of the Park East Freeway spur.
- 1999: Park East Freeway demolition begins.
- 2002: Tax Incremental District for Park East infrastructure created.
- 2005: Tax Incremental District for Park East amended to include additional infrastructure work.
- 2007: The Flatiron condominiums, the first development to take place in the former Park East Freeway corridor, are completed.
- Spring 2008: Mandel Group’s North End development plans begin to take shape; the first phase of construction begins.
- April 2008: Work begins on the $27 million Aloft Hotel, the first new hotel in downtown Milwaukee since 2001.
- December 2009: The Aloft Hotel, and the extension of the RiverWalk along the property, opens.
- March 2011: Work begins on the $54 million The Moderne residential development.
- February 2012: Milwaukee County, Milwaukee School of Engineering (MSOE) and BMO Harris Bank (formerly M&I Bank) enter into a tri-party agreement to restructure the ownership interests of Park East lots east of the river for MSOE’s proposed dual-use parking structure and NCAA-compliant athletic field.
- Summer 2012: North End II breaks ground.
- Spring 2013: The Moderne opens.
- Summer 2013: North End II opens.
- Fall 2013: Grand opening of MSOE’s soccer stadium and parking structure, Viets Field.
- September 2013: OPUS signs an option to purchase Block 22 of the Park East for a mixed-use development, including affordable housing, retail, office space and parking.
- October 2013: Phase I of The Avenir, an upscale residential development by Wangard Partners, breaks ground on Block 26 with an anticipated completion date of September 2014.