2023 Fall Issue of Urban Land - 116

The Land Use Plan made several general
recommendations:
Keep and expand manufacturing as the
valley's major activity. Manufacturing brings
economic return into a region because many
of the products are sold to outside buyers.
In contrast, in entertainment development,
money passes from one source to another
within the area with no net increase. Manufacturing
jobs also tend to pay more than
those in retail or entertainment. Moreover, the
valley already had an industrial character and
employers. Maintaining and supporting existing
employers would maintain the jobs already
there.
Create green spaces. Existing undeveloped
land along portions of the riverbank could be
used for open space. Since the area is a floodplain,
it would be a natural use for walks and
bikeways, playing fields, and other recreational
activities.
Create access. This could be done through
expanded roadways, trails, and bridges.
Remove all uses that degrade the environment.
Development
finance
The total cost of the overall project was $62
million, with funds going to remediation,
laying of new infrastructure, preparing the
Menomonee Valley Industrial Center site, the
stormwater park, the Three Bridges Park, the
PROJECT INFORMATION: MVIC
DEVELOPMENT TIMELINE
Planning started (international design competition)
Site purchased
Construction started
First parcel sold
Sales started
Phase I completed
Phase II completed (sale of final parcel)
LAND USE PLAN
Buildings
Streets/surface parking
Open space/landscaping
Total
PARKING SPACES
In developments
On street
SOURCE: MENOMONEE VALLEY INDUSTRIAL CENTER AND THREE BRIDGES PARK (ULI CASE STUDY)
116
Site area (acres)
60
10
39
109
Percent of site
55%
9%
36%
100%
1,050
595
2002
2003
2003
2005
2006
2007
2018
Hank Aaron State Trail extension, and the new
branch of the Urban Ecology Center. Fundraising
for the industrial center and the park took
many years and countless people.
Industrial park
The goal for the MVIC was to prepare the
land for development and sale to private manufacturers.
The total cost to accomplish this
was $40.4 million.
The largest commitment was from the city
of Milwaukee through its TIF program, which
was initially $16 million and as of the end of
2020, totaled $26.5 million. As of its December
2019 periodic report on the tax increment
district covering the site, the for-sale land has
been completely sold to 11 companies for $73
million. The report projects recovery of costs,
plus interest, for the tax district in 2028. The
maximum legal life of the tax increment district
ends in 2030.
The next largest finance pieces for the
MVIC were through HUD and included a
$1.95 million Brownfield Economic Development
Initiative (BEDI) grant. The BEDI program
was designed to assist cities with sites
otherwise difficult to redevelop because of
contamination. Another $3.5 million from HUD
was obtained via earmarks from Wisconsin's
elected officials in Washington, D.C. Interviewees
commented that federal brownfield grants
and earmarks would be much more difficult
URBAN LAND FALL 2023
ULI
2023 Fall Issue of Urban Land

Table of Contents for the Digital Edition of 2023 Fall Issue of Urban Land
