In an article on Snewsi.com, Milwaukee Bucks President and Milwaukee County Executive Chris Abele as well as leaders from the Milwaukee trade and construction industry were present when a land sale was announced on Wednesday, September 9th. For $1, the NBA franchise Bucks bought the land in the city's Park East Corridor. That sale, however, doesn't include the two plots in the Park East Corridor, along Water Street. And as part of the project, Park East Block 22 is still open for bids.
As cited in Fox6now.com, block 22 consists of two plots, which totals more than 2 acres along Water Street near Ogden in downtown Milwaukee. "It's prime real estate," Tracy Johnson, president and CEO of the Commercial Association of Realtors claimed. On top of that, it is the last portion of property located in the Park East Corridor that remains open for development. Johnson said: "What's really great about this land is you've got lots of development already around it".
However, should you be interested in this land, you really have to be educated about it as well. "There was a major freeway on this land. You just don't know what's under there. You're really talking about a proposal. You're talking about what is the investment in the land?" Johnson said as cited in Fox6now.com.
Johnson says the $1 price for the land sold to the Bucks may appear misleading. "When you talk about selling it for a dollar, you have to consider all the other things that go into considering that proposal," Johnson explained. Johnson says the consideration is utterly comprehensive from remediation costs to job creation. Proposals are accepted and then would undergo review on a monthly basis by the certain members of a committee. "They will consider them based on a scorecard -- and they will make a decision whether to hold it or whether to move it forward," Johnson elaborated as reported on Fox6now.com. Any viable development proposal for Block 22 is welcome according to Johnson. "Rolling request for proposals doesn't have a definite term, so if you're interested, you're advised to get more information," she added.