Milwaukee Journal Sentinel article on Arena Package: Click Here
Milwaukee, WI (4/8/15) – The Commercial Association of REALTORS® Wisconsin is pleased to see the Milwaukee Bucks’ renderings of the new Milwaukee sports and entertainment arena and ancillary development. It shows vision and foresight, and a holistic design that will serve as a welcoming, accessible gateway to the City as well as a vibrant entertainment space for the entire community.
“This is the single-most catalytic project for downtown Milwaukee in a generation with the prospect of $1 billion in new real estate development,” said Paul Galbraith, CARW Chairman. “Not only will we all benefit from the construction of the arena, but the ancillary development, increase in property values, job creation, and connectivity this project will provide for our community and our region for decades to come as new phases of the project come to fruition.”
CARW has been working in partnership with the City of Milwaukee and Milwaukee County since June 2014, to market the Park East land where much of the ancillary development is proposed. The original concept for the 16-acre site included mixed-use design. “Our members work each and every day with business owners and site selectors contemplating new sites, and so often, look to the vitality of an area to drive that decision,” said Tracy Johnson, President & CEO for CARW. “What we’re seeing today resembles a masterplan that ties in attractive retail, livable housing options, and office that will tie to other economic drivers in the community like educational institutions and convention centers.”
Cities that have made similar investments in sports and entertainment arenas have seen the economic influence that yielded new construction permits and increase in occupancy of hotels that in some cases, has been double what was initially predicted.
“We have the Bucks to thank for making this visionary project a possibility – we now have the responsibility as a community and leadership, to make this entire plan a reality,” said Paul Galbraith. “This is one of several commercial projects that is tipping our City and our State in the right direction.”