Number
240530
Version
SUBSTITUTE 1
Reference
Sponsor
ALD. BAUMAN
Title
Substitute resolution directing the Department of City Development to retain one or more consultants to analyze the feasibility of each of the proposals submitted in response to the Department’s Request for Proposals for redevelopment of the City-owned Marcus Center Parking Structure site.
Analysis
This resolution directs the Department of City Development to retain one or more consultants to analyze the feasibility of each of the three proposals submitted in response to the Department’s Request for Proposals for redevelopment of the City-owned Marcus Center Parking Structure site.
Body
Whereas, The City of Milwaukee owns the block bounded by East Highland Avenue, East State Street, North Water Street and North Edison Street; and
Whereas, This block is wholly occupied by the Marcus Center for the Performing Arts Parking Structure; and
Whereas, The Marcus Center Parking Structure, which itself is underutilized, represents an underutilization of this block and is far from being the highest and best use of this prime Downtown Milwaukee real estate; and
Whereas, Redevelopment of the 2.45-acre Marcus Center Parking Structure site presents opportunities to create employment, increase the city’s tax base, create additional housing units, enhance the city’s skyline, and bring additional activity and vitality to this part of Downtown; and
Whereas, In September, 2023, the Department of City Development (“DCD”) issued a Request for Proposals for redevelopment of the Marcus Center Parking Structure site; and
Whereas, DCD received three proposals for redevelopment of the Marcus Center Parking Structure site; and
Whereas, DCD has selected the proposal submitted by the Neutral Project, which is also attempting to develop a 32-story mass timber apartment tower at 1005 North Edison Street; and
Whereas, DCD is recommending that the Neutral Project be granted a one-year exclusive right to neg...
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