This Just In ...

Back to the S.27th Street drawing board

Posted by Kevin Fischer on Sept. 16, 2011

Efforts by Franklin and Oak Creek to lure developers to S. 27^th Street are explored in this week’s Milwaukee Business Journal. The complete article is not on-line. But here are some of the key portions of the piece by Sean Ryan:

“The economy was booming in 2004 when Oak Creek and Franklin drafted the long-range development plan for the six-mile stretch of 27th Street between College Avenue and County Line Road.”

“Since then, the real estate industry went soft, and the reality of development on South 27th has not lived up to the optimism that preceded the recession. City officials are looking at new public incentive programs, a business improvement district and modifying zoning along the street to attract projects in an economy with fewer development opportunities and heavier competition from other communities.”

“A source of optimism in Oak Creek and Franklin is the planned Interstate 94 interchange at West Drexel Avenue, which connects to South 27th in the center of the redevelopment corridor.
Projects in the corridor include Dental Associates’ $9.5 million headquarters and clinic that will open this month. A restaurant and banquet center is planned to replace the former golf dome on South 27th Street that closed. Among the largest planned projects is Ener-Con Cos. Inc.’s proposal for the southeast corner of West Rawson Avenue and 27th Street. Greenfield-based Ener-Con has plans for a 50-room hotel, six office buildings with a combined 60,000 square feet and 90 senior housing apartments split between two buildings.”

“The (Forward Franklin Economic Development) committee is considering creating new city incentive programs, (committee chairman Craig Haskins) said. One proposal, modeled after a program in Minneapolis, would give money to developers to pay off the interest on project loans. A challenge with that program is finding the money in city coffers to pay for it, Haskins said.
‘We’re not sold on it, we’re not really sure how we would pay for it, but it’s being kicked around,’ he said.”

“’It comes down to is the city serious about budgeting dollars for economic development and, if they’re not, this is all a waste of time,’ (Alderman) Steve Taylor said.”