Near West Side Milwaukee Redevelopment

[Mia Istalian]

This may pertain mostly to those of you who are familiar with the Milwaukee markets. I have know about this redevelopment plan for two years now, but not sure if it is really going to take off. The City plans to redevelop State Street to the north; Wells to the south; 31st to the east; and 33rd to the west. See the attached link

http://city.milwaukee.gov/AreaPlans/NearWest.htm#....

Some of the local bigger players/companies  supporting the project are Harley Davidson, Miller Coors, Marquette HS, Marquette university, Aurora Health care and  West End Development Corporation.

It seems to me that the 27th street corridor is planned for redevelopment but I can't find any deadlines and have not seen anything being done recently. There were surveys out for the last two, three years about the expectations and what people want to see as far as schools, shops, safety, street lights etc. Currently at this time this area is not desirable and this is only an opinion of mine, but if this plan picks up speed and the city of Milwaukee decides to revitalize it wouldn't it be something you wish you had invested in?

What are your thoughts?

Mia

[Mike Lowery]

It is one of the most densely populated areas of the city. It’s interesting that they are trying to revitalize it when they just shut down the firehouse responsible for that area (30th and Clybourn). I also thought it was an undesirable area, but after speaking with a prominent investor who owns there, he said that the property has been one of his best cash flowing, least troubled assets in his portfolio.
I think it would take a lot to revitalize that area but can see why the HD, MUHS, etc are investing in it.