FOR IMMEDIATE RELEASE ON SEPTEMBER 21, 2004
Council action furthers Park East development
Approvals pave way for a mixed-use, completely tax-generating district
Milwaukee’s Common Council today passed two key pieces of legislation regarding Park East redevelopment. The Park East corridor is a 26-acre swath of land on the north edge of downtown. It is open for development now that the under-used Park East Freeway has been demolished.
Alderman passed an ordinance changing the zoning for the redevelopment area to Downtown-Residential and Specialty Use. The area, generally north of West Highland and between N. 8th and N. Jackson Streets, had been a mix of zones, including “light manufacturing” and “industrial light”. The zoning change will set the scene for the kind of development recommended in the approved Park East Redevelopment Plan, explained DCD Acting Commissioner Rocky Marcoux. “This is another sign to the development community that the Mayor and the Common Council are committed to moving the Park East forward in a timely fashion.”
Common Council members also passed an amendment to the Redevelopment Plan. In June, Mayor Tom Barrett had asked the Redevelopment Authority to prepare and submit the amendment. It requires any proposals for tax-exempt properties in the redevelopment area to get special Common Council approval. “What the Council approved today helps us ensure that the investment we’re making in infrastructure in the corridor will be covered by the taxing district we created,” said Mayor Barrett.
There are a few key remaining milestones for the Park East project.
- The new Knapp Street Bridge will be completed and opened this fall.
- The City of Milwaukee and Milwaukee County will continue to work together develop a land disposition strategy. Steps include land surveying, appraisal, replatting, and designing a process for land sales.
- The tax incremental district now in place will be amended to fully fund infrastructure development costs required to prepare land for redevelopment.