Sometimes you gotta wonder...
An [DOT paid for] analysis...received in July builds a strong economic case for the roadway overhaul, including the prospect for construction valued at $5.7 billion on land around the current Hoan footprint and the creation of roughly 8,090 jobs through commercial development
Uh-huh. Here, Sen. Plale and I agree.
State Sen. Jeff Plale (D-South Milwaukee) was skeptical of the development estimates presented in the HNTB draft.
“I don’t see it,” he said. “I’m having a hard time seeing a $500,000 condo next to a Milorganite factory.
“All of that land is next to Jones Island and abuts a port and a sewerage treatment plant and those oil tanks. I don’t know who is going to plop a Nordstrom in the middle of that.”
But there's more. The JS article mentions the Park East Freeway demolition.
Developers said replacing the Hoan Bridge with a street-level bridge and boulevard is reminiscent of the Park East Freeway’s demolition.
The replacement of that elevated freeway with a street-level bridge made available 16 acres for development along downtown’s northern edge. Those efforts have lagged, however, with projects running into delays as the nation’s economy has slowed and credit markets have tightened.
Really? That land became available at the very beginning of the economic up-cycle (roughly 2003). The 'credit market tightened' and the 'economy slowed' in the last 6-12 months or so.
Commercial development FOLLOWS population. Unless the City of Milwaukee begins attracting a serious middle-upper income crowd to Downtown, you can fuggedabout $5.7Bn "developments."
Good points on the Hoan Bridge 'alternative'. Rose-colored glasses anyone - or perhaps a guide dog and a white stick...?
ReplyDeleteThe Journal also reported on yet another development being delayed possibly until 2010. Yep, just the time to start another multi-billion dollar pie-in-the-sky project.
And as to the Park East business, how much actual development has been done to date? And how many potential developers threw their hands up over the pre-requisites of the City of Milwaukee (must use minority-owned companies for construction, etc.)...?