WEDC investment to help fund site investigation for redevelopment
MADISON, WI. JULY 1, 2021 – The Redevelopment Authority of the City of Milwaukee (RACM) is receiving a $150,000 state grant to assist in the site investigation of a property located in Milwaukee.
The Brownfield Site Assessment Grant from the Wisconsin Economic Development Corporation (WEDC) will support site clearance and environmental site investigation of a historic Haymarket district property that will be redeveloped into the Milwaukee Public Museum and Betty Brinn Children’s Museum.
“A vibrant downtown is key to a community’s overall economic health, and this development will bring more visitors to downtown, which will benefit other businesses and the entire community,” said Missy Hughes, secretary and CEO of WEDC. “We are pleased to be able to support the RACM on this exciting project that will spur additional economic growth.”
Historic Haymarket Milwaukee (HHM), a separate legal entity, was established to acquire and develop the property that will serve as the future home for the Milwaukee Public Museum and Betty Brinn Children’s Museum.
“We thank the Redevelopment Authority of the City of Milwaukee and WEDC for the funding to help prepare the site that will house the future museum,” said Ellen Censky, CEO of the Milwaukee Public Museum. “This funding begins the work of transforming that block into an innovative, world-class museum experience.”
“Each step toward our collocation has built excitement and strengthened our commitment to create the best museum campus we can for the community,” said Brian King, executive director of the Betty Brinn Children’s Museum. “We are grateful for the support from WEDC and RACM as the project develops.”
The property to be redeveloped consists of three parcels on Sixth Street and West McKinley Avenue that total 2.4 acres and currently hold brick buildings. The new facility will cost approximately $190 million, translating to jobs and additional economic growth in the neighborhood.
The Site Assessment Grant will support site investigation and development of full soil management and remediation strategies, asbestos abatement and demolition of the warehouse located on the northern part of the property to allow efficient soil investigation. Completion is expected in June 2022.
For the full construction project beyond the WEDC grant, HHM will require 50% of the construction workforce to be from Milwaukee County and 40% from the City of Milwaukee Residential Preference Program to support local job growth. HHM also plans to work with diverse suppliers and engage with neighborhood businesses for the development.