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Development News for the week 10/25/08 to 10/31/08
Many options still on table over new downtown library
Madison 's new Central Library should be a stand-alone building with architectural significance, and only part of a multi-story, mixed-use building ..
Willy Street Co-op loans manager to foundering Stoughton co-op
The Yahara River Grocery Co-op in Stoughton is going to try to stay open, and it's getting a big assist from friends on Madison's Near East Side...
McFarland company has an answer for drug-polluted water
The alarm bells sounding over discarded pharmaceuticals reaching public water supplies could prove golden for a local startup company. Since its...
Hilton's Homewood Suites opens on Far West Side
The new Homewood Suites by Hilton has opened on the Far West Side...
First Business Financial Services profit rises
Madison-based First Business Financial Services, which includes First Business Bank, reported its third-quarter net income rose by nearly a third...
Anchor Bancorp wants to join in federal bank bailout
Madison-based Anchor Bancorp, which has seen its share price drop 80 percent this year amid the global financial meltdown, is looking to participate in the federal government bank bailout program...
Alfalight gets Army research contract
Alfalight has received a $1.36 million contract from the Army Research Laboratory in Adelphi, Md. The funds will help the Madison company continue its research to develop...
Spectrum loses round in patent fight with Energizer
Energizer Holdings has won a preliminary injunction against Spectrum Brands, whose Rayovac battery division is based in Madison. Energizer claims Spectrum Brands has infringed on...
UW-Madison 14th best in value for public schools, magazine says
The University of Wisconsin-Madison is the 14th best value for in-state students out of 100 of the nation's public colleges and universities, according to business magazine Kiplinger's Personal Finance...
Panel favors sale of four James Madison Park properties
A city committee is likely to recommend that four city-owned properties in James Madison Park be sold to generate money for the improvement of the park...
County working on Mazomanie land purchase
Dane County is in the process of buying approximately 1,000 acres of land in the town of Mazomanie, about two miles north of the village and roughly from...
Residents want to stop partial demolition of Royster Clark site
Residents of an east-side neighborhood want to stop the proposed partial demolition of an abandoned ...
Around the State and Points Elsewhere
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Economy won't drive 27th Street corridor
Economy won't drive 27th Street corridor. Cities' officials plan for corridor rehab. Even in a sputtering economy, Franklin and Oak Creek officials remain confident the multibillion-dollar redevelopment of South 27th Street will not stall, at least not for long...
Official champions farmland preservation
Official champions farmland preservation. Wisconsin is losing 30,000 acres of farmland a year, which is the equivalent of two 6-mile square townships...
Committee puts brakes on Dave & Buster’s
Committee puts brakes on Dave & Buster’s. Aldermen concerned about traffic, security at Mayfair Road location. A Committee puts brakes on Dave & Buster’s. Aldermen concerned about traffic, security at Mayfair Road location.
Mayville Engineering buys former Maysteel facility
Mayville Engineering Co. Inc. has purchased the former Maysteel facility in Mayville, allowing the company to expand its product line in both the shooting sports marketplace and the contract and prototype divisions...
Committee recommends allocating money to WEDC
Committee recommends allocating money to WEDC. Proposal could still mark its end. Wauwatosa Economic Development Corporation could obtain a line item in the 2009 budget if a recommendation from one committee survives the Common Council...
First phase of 2035 plan nearly done
First phase of 2035 plan nearly done. Brookfield has nearly completed the first phase of retooling its long-term comprehensive plan, and members of the city’s Plan Commission had a chance to see the results of that work for the first time Oct. 27...
Hotel proposal near Highway 100, Layton intrigues planners
Hotel proposal near Highway 100, Layton intrigues planners. Panel backs zoning and permit issues. Greenfield Plan Commission has recommended measures that would enable the development of two hotels and a banquet center on a 6.5-acre parcel near Highway 100 and Layton Avenue...
Watch List (Oct. 26-Nov. 1): Optimism Overtaken
USconstruction starts are expected to drop next year as the tough funding environment continues, construction projects are deferred, and financial stress ...
WisDOT, UW build experimental bridges
AP MADISON, Wis. - The Wisconsin Department of Transportation and the University of Wisconsin-Madison are working together to build an experimental bridge ...
Developers see potential for land under the bridge
Should Milwaukee’s Hoan Bridge, a major north-south thoroughfare for the community, be replaced with a street-level boulevard that would attract millions of dollars in new real estate development along the lakefront? Or is it unrealistic to think that developers would find demand for land so close to the stench of Jones Island and the Milwaukee Metropolitan Sewerage District plant?
M&I to receive $1.7 billion in federal bailout funds
Milwaukee-based Marshall & Ilsley Corp. today announced that the U.S. Treasury Department will purchase $1.7 billion in M&I stock as part of the $700 billion federal bailout package for the banking industry.
Proposed Rosendale factory farm would be largest in Wisconsin
Opponents say environmental impact must be considered. Most people know Rosendale as a village speed trap along Highway 26 near Oshkosh. But it soon might be known for the proposed Rosendale Dairy, potentially the largest dairy farm in the state, with 8,000 dairy cows and 300 beef steers. The Wisconsin Department of Natural Resources is considering a pollutant discharge permit application by James Ostrom of Kaukauna, whose company MilkSource currently owns and operates two other large dairy operations -- a 7,000-cow farm in Outagamie County and a 2,500-cow facility in Winnebago County.
U.S. economy shrinks in third quarter
WASHINGTON - The economy jolted into reverse during the third quarter as consumers cut back on their spending by the biggest amount in 28 years, the strongest signal yet the...
Consumer confidence falls to lowest on record
WASHINGTON -- A private research group said Tuesday that consumer confidence in the U.S. economy plunged in October to its...
State, feds reach tentative BadgerCare deal
Gov. Jim Doyle says the state and federal government have agreed in principle on the state's plan to expand the BadgerCare Plus health insurance plan to low-income childless adults...
Development News for the week 10/18/08-10/24/08
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Erdman plans new plant in Waunakee
Erdman, of Madison, has purchased property in Waunakee where it plans to build a 170,000-square-foot manufacturing and distribution plant that will house its Building Supply Group.
Construction to begin on Monona senior housing development
Construction is scheduled to begin today on Heritage Monona, a senior housing development near Owen Road west of Monona Drive in Monona. The first phase of the $14 million development by MSP Real Estate of St. Louis Park, Minn., will be completed next fall and includes 88 independent-living units and 75 units of assisted-living and memory-care housing.
GORMAN TO BUY TWO MORE PABST BUILDINGS
Gorman & Co. of Oregon has signed a contract to buy two more Pabst buildings in Milwaukee for development. The purchase is expected to be completed by the end of the year.
Local construction outlook dismal
Contracts for future construction in the Madison metro area were well down in September compared to a year ago, indicating no looming pick-up in the sluggish construction industry, McGraw-Hill Construction reported...
Cross Country: Raemisch Implement kicks into high gear
It looks new. It smells new. It is new. Besides those obvious facts, Raemisch Implement Inc. has space -- some 11 acres of it -- and a huge,...
MONONA MOBILE HOME PARK MUST BE CLEANED UP
The city of Monona has ordered the owner of the defunct Hickory Lane Mobile Home Park to have the site cleaned up by Dec. 31. If the site isn't cleared by then, the city will do the work and assess the owner, said Pat Marsh, city administrator.
HOME LOANS AVAILABLE IN AREA EXPERTS SAY SOUTHERN WISCONSIN BUYERS WITH ADEQUATE CREDIT CAN GET MORTGAGE MONEY
Mortgage money remains available in southern Wisconsin to home buyers with adequate credit, despite the national credit crunch. "There's plenty of money for home loans out there," said Ron Steinhofer, manager of Marshall & Ilsley Bank's regional home lending group. "It is slightly more difficult to qualify than two or three years ago, but if you have a good credit score, a good job and a down payment, money is available."
STUDY: SOUTHWEST WISCONSIN IS LOADED WITH BIOMASS REPORT SAYS THERE'S PLENTY OF PLANT WASTE TO SUPPLEMENT COAL IN PROPOSED CASSVILLE POWER PLANT
From Wisconsin State Journal, Sat Oct 18 2008 Wisconsin has enough corn and wood waste and switchgrass to provide all the fuel for the proposed power plant in Cassville, and then some, a study shows. Alliant Energy, of Madison, wants to build a 300-megawatt power plant in Cassville. Most of its fuel would come from coal, but up to 20 percent would be biomass, such as cornstalks, prairie grass and discarded treetops.
LAKE MILLS LOSING BIG EMPLOYER SPX CORP. WILL CLOSE ITS JEFFERSON COUNTY PLANT, CUTTING 159 JOBS.
What for years had been the largest employer in Lake Mills will soon close its doors. The SPX Corp. filed notice with the state that it will close its APV North America plant on Dec. 31, eliminating 159 jobs from the western Jefferson County city of almost 5,400 people.
LEAR SAYS 400 WILL LOSE JOBS JANESVILLE COMPANY TIED TO GM PRODUCTION
Nearly 400 employees of Lear Corp. in Janesville are the latest casualties of General Motors' decision to stop manufacturing sport utility vehicles in the Rock County community. Lear notified the state Department of Workforce Development on Thursday that it will close its Janesville plant, which makes seats for the Chevrolet Suburbans and Tahoes and GMC Yukons produced at the nearby GM factory. The jobs of 381 Lear employees will end Dec. 23, the company said, the same day that GM has said it will stop SUV production, eliminating about 1,250 positions.
UW student entrepreneurs turn big sale
When Nate Lustig lost the lottery for student-section Badger football tickets in 2005, he turned to a year-old online business called ExchangeHut.com to buy seats for campus athletic events at market-rate prices. Within a year,...
BADGER RD. LANDLORD COULD GO TO JAIL SHE HAD BEEN ORDERED TO SHUT BUILDING
In a first, a Madison landlord faces jail time for failing to empty and shut a troubled apartment building. The city, which has never pressed a drug abatement case so far against a landlord, is asking the court to appoint a receiver to handle the property and wants to force its sale.
BOARD CONSIDERS BOOSTING BADGER PRAIRIE BUDGET COMMITTEE APPROVES MORE MONEY FOR NEW NURSING HOME.
The Dane County Board is considering boosting the budget for a new Badger Prairie Health Care Center after bids came in $4 million over the project's $21 million projected cost. An oversight committee voted Wednesday night to include $3.75 million for the nursing home in the 2009 capital budget. The amendments add a geothermal heating system expected to save long-term energy costs and provide money so the designs won't have to be scaled back as much, said Sup. Shelia Stubbs, of Madison.
Around the State and Points Elsewhere
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Four state companies laying off hundreds of employees
It won't be a fun fall or happy holiday season for hundreds of employees at five Wisconsin companies, announcing layoffs or plant...
3rd quarter foreclosures in U.S. up 71 percent from 2007
The number of homeowners ensnared in the foreclosure crisis grew by more than 70 percent in the third quarter compared with the same period in 2007, according to data released Thursday..
Five from Madison called 'Rising Stars' in biotech
Leaders of five Madison bioscience companies have been named 2008 winners of the Rising Star award by the Wisconsin Biotechnology & Medical Device Association...
Survey finds concern about state biotech funding
Money to finance the growth of biotechnology companies in Wisconsin is drying up. That's what two-thirds of the state's biotech and medical device business executives say, in a survey conducted for the Wisconsin...
Odana Road Mac Shop is now Willy Street MacXprts
As he took a break from putting the finishing touches on his new MacXprts store at 804 Williamson St. Thursday -- a day before its opening
Forecast predicts further drop in commercial, residential activity
Forecast predicts further drop in commercial, residential activity. Both commercial and residential construction activity will continue to decline next year as the economy sputters and credit remains tight, according to a national forecast released Thursday...
Changes made to Commons
Changes made to Commons. Oconomowoc council members voted Tuesday night in favor of several amendments to the Valley Road Commons mixed-retail and office-use project at the northeast intersection of Highway 67 and Valley Road, which is expected to include a Brennan's grocery...
DOT weighs super-sizing interchange
DOT weighs super-sizing interchange. Public input sought on zoo area’s freeways. A proposal to expand the freeways through the Zoo Interchange to eight lanes will be one of the options put to the public when the state Department of Transportation seeks public input next week, according...
Wisconsin job loss figures show biggest year-to-year drop since 2004
Wisconsin job loss figures show biggest year-to-year drop since 2004. Local job losses continued spreading last month as each of Wisconsin’s metropolitan areas fell behind from where they were 12 months earlier...
Biotech executives’ conference focuses on forming alliances
Biotech executives’ conference focuses on forming alliances. Wisconsin's biotech movers are celebrating their successes and planning for more...
RedPrairie plans Delafield move - Company might be part of new I-94 business park
RedPrairie plans Delafield move - Company might be part of new I-94 business park. City officials this month will begin reviewing - and possibly approving - development of a mixed-use commercial office park at Highway C and I-94 that might include a 120,000-square-foot office building for nearly 500 employees that is likely to affect...
Blight at St. John's Academy? Campus seeks city-issued bonds
Blight at St. John's Academy? Campus seeks city-issued bonds. The Common Council is considering issuing up to $10 million in so-called Community Development Authority "conduit" bonds on behalf of St. John's Northwestern Military Academy.. The Common Council is considering issuing up to $10 million in so-called...
Future of village’s northwest side comes into question
Future of village’s northwest side comes into question. Board denies rezoning request for 10-acre lots. A rezoning request that would have allowed the development of 10-acre lots has become a sparkplug for discussion on the future of the village’s northwest side...
City buys residences to clear block for redevelopment
City buys residences to clear block for redevelopment. A stench of urine and stale cigarette smoke fills your nose as you enter...
WEDC funding fails again at Budget Committee
WEDC funding fails again at Budget Committee. City would handle economic development in mayor’s budget. A renewed attempt to fund a public-private economic development corporation failed to spark interest from the city Budget Committee last week...
Condo proposal moves forward, sort of
Condo proposal moves forward, sort of. Commission gives conceptual approval of rezoning request. Wanting a better idea of what kind of project is being proposed, the Whitefish Bay Plan Commission on Oct. 21 recommended conceptual approval of a rezoning request that would allow condominiums...
Regional planning: An important study
Regional planning: An important study. Although we haven’t always agreed with him, Phil Evenson generally has done a first-rate job as executive director of the Southeastern Wisconsin Regional Planning Commission. Now that he’s about to retire, he can do one more thing that will add to his...
RedPrairie would anchor Delafield business park
RedPrairie would anchor Delafield business park. A business park for technology-based companies, including software-maker RedPrairie Corp., is planned for a Delafield location that was once envisioned as a shopping center...
Group supports paid sick days
Group supports paid sick days. In the first year after a paid-sick-days law passed in San Francisco, job growth was as strong as in neighboring Bay area counties, a new study shows...
Homebuilder falls behind on payments to contractors, suppliers
Homebuilder falls behind on payments to contractors, suppliers. A company hired to build houses for a publicly financed development in Milwaukee’s central city has fallen behind on tens of thousands of dollars in payments owed to several area subcontractors and suppliers...
Groups to get $220 million in federal tax credits
Groups to get $220 million in federal tax credits. Wisconsin organizations will receive a total of $220 million in federal tax credits aimed at stimulating economic growth and creating jobs in low-income areas, the U.S. Treasury said Monday...
Brew pub coming to St. Francis
Brew pub coming to St. Francis. St. Francis Brewery, Restaurant to be 1 of a kind on south side. A group of local investors is building a brew pub in St. Francis, bringing the first combined restaurant and brewery to the southern portion of Milwaukee County...
Job situation still worsening
Job situation still worsening. Milwaukee hits lowest August employment level in 19 years. With job prospects weakening for most places, Milwaukee’s employment market continues to slip, according to a report released today by the Center for Economic Development at the University of...
Franklin developer sued over payment
Franklin developer sued over payment. A developer hoping to build a large mixed-use project in Wauwatosa is being sued for allegedly failing to pay a firm that helped it find financing to buy the project site...
Answers to help struggling homeowners
Answers to help struggling homeowners. Program will try to change mortgage terms to fixed rates. Congress and the White House have spent months trying to ease the housing crisis by shoring up credit markets and creating foreclosure-prevention programs...
Good to Know
Good to Know. Useful real estate news. 30-year mortgage rate hits highest level in 8 weeks Rates on 30-year mortgages jumped to the highest level in eight weeks, squeezing some potential home buyers out of the market, and reflecting how nervous lenders remain despite...
Homebuilders’ outlook darkens
Homebuilders’ outlook darkens. Housing stimulus package, other factors haven’t fired up economy. The business outlook among homebuilders plunged to an all-time low this month, as the U.S. financial crisis further sapped their confidence in a near-term housing market recovery, an industry...
M&I might apply for federal bailout
M&I might apply for federal bailout. Problem loans have hurt the state’s largest bank. Marshall & Illsley Corp. is considering applying for the federal bank bailout program, the company told shareholders Friday...
Former Fed official says crisis will get worse
Former Fed official says crisis will get worse. McTeer led Dallas Federal Reserve Bank. The nation’s economic crisis is more serious “than anybody ever dreamed” and is going to get worse, a former Federal Reserve policy-maker said Tuesday in Milwaukee...
Mixed industries help Wisconsin weather slowdown, economist says
Mixed industries help Wisconsin weather slowdown, economist says. While conceding that the nation could be sliding into a recession, a senior Federal Reserve official said Friday that Wisconsin's diverse manufacturing sector is faring better than portions of the Midwest that rely more heavily on automakers and their...
Gov. Doyle announces rural economic development loan
Governor Jim Doyle today announced that Innomation, Inc. in Phillips will receive $100000 in Rural Economic Development (RED) loans from the ...
GM's Janesville plant closure has domino effect
The impact of General Motors Corp.'s decision to close its truck and sports utility vehicle assembly plant in Janesville is spilling over to other companies, with three suppliers to the plant announcing they too will close their doors and eliminate jobs.
State issues RFP for sale/redevelopment of DNR's King Drive office building
The state Department of Administration has issued a request for proposals (RFP) seeking developers to purchase the Department of Natural Resource's 48,900-square-foot building located on a 3.6-acre site at 2300 N. Dr. Martin Luther King Jr. Dr., Milwaukee, and build a new office building in its place that will be leased to the
Aloft hotel developers may be close to obtaining financing
The developers for a proposed 160-room Aloft hotel northeast of West Juneau Avenue and North Old World Third Street along the Milwaukee River in downtown Milwaukee may be close to obtaining financing for the project.
State headlines: Development moves forward on Appleton's riverfront
After months of delay, work on the $55 million RiverHeath condominium/commercial project starts this week on Appleton's riverfront. Read more in SBT's daily roundup of headlines from newspapers across the state at
Development News for the week 10/11/08-10/17/08
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NORTHSIDE PLANNING COUNCIL GOING STRONG AFTER 15 YEARS
When the Northside Planning Council gathered at the Warner Park Community Recreation Center to celebrate its 15th anniversary, a roll call of its 26 member organizations -- neighborhood associations, business groups, churches and others -- brought competing cheers that sounded more like a pep rally than a meeting of a civic organization. That probably says a lot, remarked former Mayor Paul Soglin, who as a guest speaker recalled the birth of the planning council idea back in the 1970s when he was a City Council member frustrated by how often residents were forced to react at the last minute to proposals that would change their neighborhoods, rather than play a role in developing them.
NORTH SIDE TURNAROUND FETED
Twenty years ago, Madison's Northside neighborhood was quickly deteriorating as drugs and crime became increasingly prevalent. Today, neighborhood organizer Ellen Barnard calls it " Madison's hidden jewel." The turnaround in the neighborhood comes on the heels of the forming of the Northside Planning Council, a nonprofit coalition of residents, neighborhood associations and community organizations designed to give residents a vehicle for participating in the issues and decisions that affect their community. NPC celebrated its 15th anniversary Friday at the Warner Park Community Recreation Center. The rec center, built in conjunction with the city and opened in 1999, was the council's first big project. The same year, the Northside Planning Council won the National Neighborhood of the Year Award.
PROPOSED HOTEL HOPES TO BUILD OFF WEST TOWNE'S SUCCESS
Madison 's far west side might be getting in on the city's hotel action as architects for a new Hyatt Place meet with the city's Urban Design Commission Wednesday. A new Hyatt Place hotel, which would be located near West Towne Mall, would be one of six hotels announced in the past year, including a 48-room boutique hotel near Camp Randall and a 128-room Hilton Garden Inn on John Nolen Drive.
HYATT PLACE TO WEST TOWNE?
Madison may be getting two new Hyatt Place hotels. Madison Hotel Associates, a group of eight private investors, will submit a plan tonight to the Madison Urban Design Commission for construction of a 127-room Hyatt Place hotel at 7315 West Towne Way, near West Towne Mall.
HOTEL POSSIBLE FOR BANCROFT DAIRY SITE
The city of Madison has been trying to boost redevelopment of the South Park Street corridor for years, including pumping more than $10 million into the blighted Villager Mall. Now, a Chicago-based real estate developer is eyeing the former Bancroft Dairy site on the corner of Fish Hatchery Road and Park Street, with thoughts of a hotel to serve visitors to the UW-Madison campus and nearby hospitals. Clark Street Development LLC has been meeting quietly with city of Madison officials about redeveloping the site, which has been vacant since 2004 when Dean Foods closed the dairy.
HANSON ROAD BRIDGE OPENS TODAY THE BRIDGE WILL PROVIDE ACCESS TO AMERICAN CENTER.
The bridge isn't typical of the hundreds of bridges that span the Interstate and state highway systems in Wisconsin. But when the $1.6 million bridge, a nearby roundabout and the Portage and Hanson road intersection opens to traffic today on the Far East Side, they will help provide better access to the American Center business park and ease congestion at peak times from the park's primary entrance and exit at the intersection of Highway 151 and American Parkway.
ZIMBRICK: THIS TOWN AIN'T BIG ENOUGH FOR BOTH OF US CAR DEALER FIGHTS HONDA'S PLAN FOR EAST SIDE SHOWROOM
For nearly 40 years, Zimbrick of Madison has been selling reliable and fuel-efficient Honda vehicles, helping the automaker establish a strong name in the local market. But Zimbrick is now taking the same manufacturer to court over the awarding of a new Honda dealership near East Towne to Wilde Automotive Group of Waukesha
THE PARK ON THE HILL PLANNING UNDER WAY ON HISTORY-RICH LAKE VIEW HILL COUNTYPARK
You've probably driven by the nondescript government building high on a hill above Northport Drive many times, not giving it a second thought.
But the institutional appearance of the structure now housing the Dane County Department of Human Services disguises a treasure trove of history and nature.
STEINHAFELS TO EXPAND NEAR EAST TOWNE
Steinhafels is planning a second store in the Madison area. The Waukesha company, which has a 65,000-square-foot store at 2164 W. Beltline, near Todd Drive, will present plans tonight to the Madison Urban Design Commission for a 99,000-square-foot showroom near East Towne Mall.
WEST MIDDLETON-ROCKDALE POWER LINE ANALYSIS DEADLINE PUSHED
A Dane County judge has given the Wisconsin Public Service Commission an additional six months to complete analysis of the proposed West Middleton-Rockdale power line. Circuit Court Judge Michael Nowakowski granted Friday the PSC's request to extend the decision deadline on the 345-kilovolt line from Jan. 9, 2009 to July 6, 2009. After twice asking American Transmission Co., the proposed power line's builder, for additional information, the PSC deemed ATC's application complete on July 11.
HANSON ROAD BRIDGE OPENS TODAY THE BRIDGE WILL PROVIDE ACCESS TO AMERICAN CENTER.
The bridge isn't typical of the hundreds of bridges that span the Interstate and state highway systems in Wisconsin. But when the $1.6 million bridge, a nearby roundabout and the Portage and Hanson road intersection opens to traffic today on the Far East Side, they will help provide better access to the American Center business park and ease congestion at peak times from the park's primary entrance and exit at the intersection of Highway 151 and American Parkway.
COMMUNITY TAKES HANDS-ON APPROACH TO NEW LUSSIER CENTER
It's all about leaving your mark. That's a principle embodied in the Lussier Community Education Center, a new 12,000-square-foot facility that organizers envision as a hub for academic achievement and community action on the west side. Center programming emphasizes empowerment and community engagement, but construction of the new facility provided several opportunities for community members to leave their mark not only on their community through their involvement with the center, but literally on the community center.
BARBECUE RESTAURANT TO OPEN DOWNTOWN
A new moderately priced downtown barbecue restaurant, Brickhouse BBQ at 408 W. Gorham St., is currently under development in Madison. MAP The restaurant, which will have capacity for about 180 to 200 diners, is owned by Jong Yean Lee, who also owns Samba Brazilian Grill, Riley's Wines of the World and Badger liquor stores, and the Church Key Pub and Grill.
OVERTURE 'TOUGH LOVE' PROPOSED GROUP RECOMMENDS OVERHAULING THE OPERATION OF THE PERFORMANCE CENTER.
A group of business and community leaders is calling for sweeping changes to stabilize the Overture Center's finances and ensure its long-term success. Among the recommendations are greater contributions from Madison taxpayers and financial help from Dane County and some suburban cities. Several suburban officials reacted skeptically.
Around the State and Points Elsewhere
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Zilber wants Neighborhood Improvement District for Pabst project
Joseph Zilber, the founder of Milwaukee-based Zilber Ltd. who is redeveloping the former Pabst brewery complex in downtown Milwaukee into a mixed-use urban neighborhood, wants to create a neighborhood improvement district (NID) for the development
Development planned in Metcalfe Park/Washington Park area
The North Avenue Community Development Corp. plans to build a three-story mixed-use building, called Avenue Lofts, at North 32nd Street and West North Avenue in Milwaukee and 20 single-family rent-to-own homes, called "Avenue Homes," in the vicinity of North 32nd Street and West Garfield Avenue.
STATE MOVES INTO TOP 10 IN ENERGY EFFICIENCY
In an October report by the American Council for an Energy Efficient Economy, the state of Wisconsin moved into the top 10 on the "2008 State Energy Efficiency Scorecard." In addition, Wisconsin should further improve its ranking now that the Citizens Utility Board and Wisconsin Public Service Corp., a natural gas and electric utility serving northeastern and central Wisconsin, have reached a milestone Stipulated Agreement. The pact, which begins in 2009 and ends in 2012, creates a pilot program that includes decoupling of sales and profits and also major increases in energy efficiency spending.
JANESVILLE LOOKS PAST GM CLOSING ECONOMY LESS DEPENDENT ON AUTO COMPANY THAN BEFORE
Despite Monday's announcement that General Motors will end production of sport utility vehicles at the Janesville assembly plant just before Christmas, much earlier than expected, there still is hope that another product eventually will be made at the plant. "Discussions about future potential operations in Wisconsin are continuing," GM spokesman Chris Lee confirmed Monday afternoon.
EX-GM WORKERS HOPE FOR BEST SOME FORMER JANESVILLE EMPLOYEES ARE SEEKING JOB TRAINING.
Few were shocked. Some were angry. Dianna Applebeck and Rob Phelps are neither and hope something better is in the works.
Wind turbines in lake feasible, but energy cost could double
Wind turbines in lake feasible, but energy cost could double. Report finds challenges in tapping stronger winds. Making electricity from wind turbines in the middle of Lake Michigan is technologically feasible but would cost up to twice as much as land-based wind farms, a state study released Friday says...
WIND FARMS IN LAKES FEASIBLE
Offshore wind farms in the Great Lakes are feasible but need more research, according to a draft report state energy regulators released Friday. The Public Service Commission's study found Great Lakes wind farms have the potential to create power on a larger scale than land farms because winds over the lakes are stronger and more consistent. They also may present fewer concerns about interfering with other land uses.
KOHLER CO. LAYING OFF 50
The housing slump is hitting the Kohler Co. The kitchen and bath fixture maker announced Tuesday it is laying off 50 employees, the majority coming from the real estate and hospitality group.
BANKING IN WISCONSIN IT'S BUSINESS AS USUAL HERE COMMUNITY BANKERS SAY DEPOSITS ARE ON THE RISE AS CUSTOMERS WANT TO SPREAD MONEY AROUND.
Despite dire national news reports that credit is tight, Wisconsin bankers say for them it's business as usual. In fact, community bankers say they're benefiting from lower interest rates and an influx of deposits from customers fleeing the stock market or banks they consider less safe. "Here in Wisconsin, things aren't as bad as they sound," said Steve Eager, senior vice president of Union Bank & Trust Co. of Evansville. He also is chairman of Community Bankers of Wisconsin. "It's not affecting us on a day-to-day basis."
BAILOUT NOT ENOUGH, FOES AGREE
Economic advisers to presidential candidates John McCain and Barack Obama agree: The $700 billion financial bailout package isn't enough to save the flagging economy. But their disagreements on what to do were in high relief at a UW-Madison School of Business forum Friday that came amid the unpredictable global financial crisis that has become the dominant theme of a campaign with less than four weeks before election day
Aloft Hotel may break ground soon
Aloft Hotel may break ground soon. Construction of the Aloft Hotel planned for downtown Milwaukee’s Park East area will begin as soon as possible, the delayed project’s developers said Thursday...
Oakton condo project plans scaled back - Floodway designation limits options on site
Oakton condo project plans scaled back - Floodway designation limits options on site. Condominiums on the former Sentry site was not the preferred proposal, but it appears to be the only use for the decaying parcel at 201 Oakton Ave.. Condominiums on the former Sentry site was not the preferred proposal, but it appears to be the only...
Hospital, residents have a year to work out differences on land use
Hospital, residents have a year to work out differences on land use. About four months after a rezoning request by Community Health Care Services was withdrawn, an attempt by residents to prevent the same parcel from being developed has been put on hold...
Aurora's exterior nearing completion - Hospital still on target for January 2010 target date
Aurora's exterior nearing completion - Hospital still on target for January 2010 target date. The new Aurora hospital project received honors last week for its onsite waste management procedures.. The new Aurora hospital project received honors last week for its onsite waste management procedures...
Developer hires firm to manage spa and fitness center at Palomar
Developer hires firm to manage spa and fitness center at Palomar. The developer of a hotel and condominium project planned for downtown Milwaukee’s Park East area has selected a firm to manage the development’s spa and fitness center...
Palomar plans include high-end spa
Although construction of the Milwaukee Palomar Hotel and Residences project is on hold for the moment, the developer of the site announced that it has selected Rockville, Md.-based WTS International Inc. to manage a 6,800-square-foot spa and fitness facility to be built on the property. Dallas-based Gatehouse Capital Corp. plans to develop the project in the Park East corridor in downtown Milwaukee.
State offers assistance for GM worke rs
State offers assistance for GM workers. The state Department of Workforce Development said Tuesday that it is working with the Southwest Wisconsin Workforce Development Board to assist workers affected by General Motors Corp.’s decision to stop making SUVs at its plant in Janesville before...
20 rent-to-own homes proposed
20 rent-to-own homes proposed. A nonprofit developer plans to build 20 homes on Milwaukee’s north side that families can rent before eventually buying the houses
Developers bring gift of water to Lannon
Developers bring gift of water to Lannon. A dozen years ago, Lannon's attempt to create a public water utility was cut off by voters angry over the $5 million expense...
Judge says city can test for pollution on Tower Automotive site
Judge says city can test for pollution on Tower Automotive site. City wants to buy the land; property owner will appeal decision. A judge has ruled that city officials can do environmental testing at the former Tower Automotive Inc. site over the property owner’s objection — a big step toward a possible purchase of...
New home, office project moving forward - Development would use 'green' construction
New home, office project moving forward - Development would use 'green' construction. A 72-acre neighborhood and office development at the north east corner of the city continues to move forward after city plan commissioners gave the project another green light Wednesday night.. A 72-acre neighborhood and office development at the north...
Engineering school: Land deal is key element of UWM plan
Engineering school: Land deal is key element of UWM plan. The University of Wisconsin-Milwaukee is closer to a deal to buy land at the County Grounds for a new engineering school and business park, judging from letters sent in recent days between UWM Chancellor Carlos Santiago and County Board Chairman Lee...
The Midwest: Toward a new vision for the industrial Midwest
The Midwest: Toward a new vision for the industrial Midwest. Our ancestors built the canals and railroads to move the timber, grain and livestock to markets across the country, they developed the assembly line system and changed the industrial world forever, they formed trade unions and sacrificed their sweat...
Johnson Controls says streak of sales increases likely to end
Johnson Controls says streak of sales increases likely to end. Johnson Controls’ streak of increasing sales and profit every year will end in fiscal 2009, the company’s chairman announced Tuesday...
Local home sales rise for first time this year
Local home sales rise for first time this year. But they’re still off 20% through September. Home prices fell about 4.7% in the metro Milwaukee area through the first nine months of the year, but sales of existing homes rose in September — the first time in 2008 that sales were up from the same month...
Rich nations rush to contain crisis
Rich nations rush to contain crisis. EU countries to back loans; U.S. might, too. Washington - After a whirl of emergency meetings, government leaders on both sides of the Atlantic produced bold promises to rescue the global financial system, but were still racing to work out details to...
U.S. rescue only the latest
U.S. rescue only the latest. This is the 8th intervention since ’71. The $700 billion bailout of Wall Street is the latest in a string of financial interventions by the federal government over the last four decades...
Financial history changing course at lightning speed, market analysts say
Financial history changing course at lightning speed, market analysts say. David Krause normally teaches financial history...
U.S. rescue relies on other nations
U.S. rescue relies on other nations. China, Japan, Saudi Arabia among countries taking on America’s debt. As fear turned to panic on Wall Street, the federal government rushed out a string of programs to prop up the nation’s financial system — at an eye-popping combined cost of more than...
ECONOMIC SNAPSHOT - LENDERS TURN TO THE FED'S DISCOUNT WINDOW FOR THEIR HELP
When credit markets tighten, banks and savings and loans can obtain short-term loans from the Federal Reserve's discount window
Wangard Companies moving HQ to Wauwatosa
Wangard Companies plans to move its headquarters from 20800 Swenson Drive at the Crossroads Office Park in the Town of Brookfield to 1200 N. Mayfair Road, Suite 220, in the High Pointe Office Centre in Wauwatosa.
Hotels proposed in Brookfield
Two new hotel developments have been proposed in Brookfield
Wisconsin moves forward with energy efficiency
In a recently issued October 2008 report by the American Council for an Energy Efficient Economy (ACEEE), the State of Wisconsin moved into the top 10 of the "2008 State Energy Efficiency Scorecard."
State headlines: Interstate bridge opens to Madison business park
A $1.6 million bridge opened today, improving access to the 400-acre American Center business park on Madison's east side. The business park, which opened in 1990 and is one of the state's largest, is just over 50-percent developed. Businesses include the headquarters for Alliant Energy, Herzing College, Johnson Bank, Stevens Construction and about 60 other businesses.
Development News for the week 10/04/08 to 10/10/08
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MARKET WOES CAUSE DEVELOPER TO PARE DOWN BASSETT NEIGHBORHOOD PLANS
A downturn in the housing market has Urban Land Interests shifting gears on a key parcel in the Bassett Neighborhood, a block from Monona Bay.
The Madison developer had initially envisioned a nine-story residential tower for the 1.6 acre site overlooking the lake and five blocks from the Capitol Square. Instead, it is now looking at a pair of lower-rise office buildings.
ANCHOR BANCORP SEEKS TO RAISE $200 MILLION PLANS TO OFFSET BAD COMMERCIAL LOSSES BY SELLING STOCK AND RENEGOTIATING CREDIT LINES.
Anchor BanCorp Wisconsin, parent company of AnchorBank, is seeking permission to sell up to $200 million in stock and other securities to raise capital to counter bad commercial loans and help finance its earlier purchase of a New Richmond bank.
The Madison-based bank holding company recently renegotiated a $120 million credit line with U.S. Bank, due on Sept. 30, extending the term until next year. Under the extension, Anchor BanCorp, which owes $116 million, must pay off $56 million by the end of this year.
HILLDALE STAKEHOLDERS REMAIN CONFIDENT WHOLE FOODS PULLOUT OF MASSIVE REDEVELOPMENT PROJECT ISN'T TRIGGERING PANIC
Even though the piles of dirt along University Avenue and Segoe Road won't be a new, larger Whole Foods grocery store as planned, residents of the neighborhood near the Hilldale Shopping Center aren't worried that the site will stay barren for long - at least not yet.
Ald. Tim Gruber, who represents the area on the City Council, said calling off the project early could actually end up as a blessing for the Austin, Texas-based grocery store chain and Chicago-based mall developer Joseph Freed and Associates LLC. The two companies confirmed what many had suspected when they announced on Oct. 2 that the project for a 65,000-square-foot store would not be going forward. The Whole Foods store at 3313 University Ave., a few blocks away from Hilldale, will remain open, however.
BANKING ON AFFORDABLE HOUSING STONE HOUSE DEVELOPMENT ESCAPES WORST OF HOUSING CRISIS
Back when other developers were pursuing luxury condominiums for the affluent, Stone House Development Inc. was quietly going in a different direction.
Specializing in apartments for moderate-income renters, Stone House has completed a variety of projects statewide in recent years. Its biggest local ventures are the 111-unit Madison Mark on King Street and the 76-unit Park Central on East Wilson Street.
FEELING THE SQUEEZE LOCAL BELTS TIGHTEN AMID WALL STREET UPHEAVAL, HIGH GAS PRICES AND SHRINKING CREDIT.
Let's see. First there was the housing slowdown. Wannabe home buyers no longer found themselves jostling shoulders with competitors at open houses and making offers that exceeded the asking price. Then the "For Sale" signs started popping up on lawns around town ... and staying up, for a long time. Then people began losing their homes to foreclosure. Then banks started to fail and credit began to tighten. Oh yes, somewhere in there gas went through the roof, though it's more "affordable" since dipping below $4 a gallon. Most recently, of course, the financial markets imploded, leading to the federal government's recent $700 billion bailout, er, rescue plan.
Unfortunately, not even that magnanimous gesture of government largesse was able to quiet the economic tremors on Wall Street or overseas. So where does that leave the hard-working folks in Madison? In our snapshot view, we found that some residents are feeling the pinch more than others, though no one is completely untouched. Some, despite the hard times, are hopeless optimists. Others, at least for the moment, are not particularly sanguine about the future. As veteran investment banker Gary Palmer puts it, "Until they get the housing mess cleaned up, nothing is going to move."
BUSY TIMES AT THE FOOD PANTRY
In Andy Czerkas' line of work, there's one thing he hates to see: new customers.
Czerkas is one of the directors of The River Food Pantry, 2201 Darwin Road, a non-denominational, faith-based service that offers non-perishable food, clothing items and twice-weekly meals to families in need.
Around the State and Points Elsewhere
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FEDERAL RESERVE LEAPS IN TO STEM FREE FALL OF DOW
The Federal Reserve reached deeper into its bag of tricks Tuesday to slow the financial crisis. Wall Street was not amused.
Frantically trying to thaw frozen lending and get the economy moving again, the Fed for the first time said it would lend directly to businesses that aren't banks and hinted that it could slash interest rates soon.
Gorman to buy two more Pabst buildings
Gorman to buy two more Pabst buildings. The former Pabst brew house and an adjacent building are being sold to a development firm that will convert the long-dormant structures into apartments, offices and retail space...
Developer to buy two more prominent Pabst brewery buildings
Oregon , Wis.-based Gorman and Company Inc., which is already redeveloping the former Keg House at the former Pabst brewery complex in downtown Milwaukee, announced today that it has two more buildings in the brewery complex under contract. Gorman is purchasing the former Brew House and Mill House buildings in the Pabst complex from Joseph Zilber. The sale is scheduled to close near the end of the year.
State headlines: Shopko TIF request moves forward in Oshkosh
The Oshkosh Plan Commission approved a request to offer $2.1 million in financial incentives to developers who want to bring a 54,000-square-foot Shopko store to the Fair Acres development…
Major Interstate 94 project will impact Greenfield
Major Interstate 94 project will impact Greenfield. State readies streets for anticipated traffic rerouting. Prep work has begun to allow local streets to handle the high volume of rerouted traffic during the upcoming Interstate 94 north-south corridor and Mitchell Interchange reconstruction project...
Major Interstate 94 project will impact Greenfield
Prep work has begun to allow local streets to handle the high volume of rerouted traffic during the upcoming Interstate 94 north-south corridor and Mitchell Interchange reconstruction project. Until that prep work is complete in November, ramps and lanes will be closed on some of the city’s busiest streets.
Park Board to explore funding for sports complex
Park Board to explore funding for sports complex. The joint Pewaukee Park Board is eager to get moving on the new sports complex planned for parkland along Lindsay Road, and the Common Council on Monday favored moving in that direction.. The joint Pewaukee Park Board is eager to get moving on the new...
Proposed brew pub seeks TIF funds
Proposed brew pub seeks TIF funds. Community Development Authority members will likely make a decision next month regarding a $75,000 request for tax-incremental financing funds for the St. Francis Brewery and Restaurant...
Housing authority would promote home ownership
Housing authority would promote home ownership. The majority of houses in the downtown 2nd District may be subject to a future housing authority...
Whoo's coming to Brookfield?
Whoo's coming to Brookfield?. Hooters wins lease for Brookfield site in auction. The city that pushed to have McDonald's abandon its Golden Arches and a grocer to paint over an objectionable shade of orange may have new challenges with an unexpected national restaurant chain coming...
Wauwatosa hires firm to apply for EPA grant
Wauwatosa hires firm to apply for EPA grant. Move would help redevelopment. The city will enter into an agreement with an engineering firm to apply for a grant from the Environmental Protection Agency...
Commission says nay to subdivision
Commission says nay to subdivision. Developer suggests catering to horse owners at meeting. An eight-home subdivision geared toward horse owners is being proposed for the 12100 block of West Highland Road in Mequon...
Marcus still has plans for downtown movie theater, president says
Marcus still has plans for downtown movie theater, president says. Marcus Corp. remains interested in opening a movie theater in downtown Milwaukee, President Greg Marcus said Tuesday at the company’s annual shareholders meeting...
Housing study delay frustrates advocates
Housing study delay frustrates advocates. Two years after promising the region's first major housing study in 30 years, a planning commission is still struggling to get the effort under way...
Project would add 90 senior apartments on Milwaukee’s northwest side
Project would add 90 senior apartments on Milwaukee’s northwest side. A Middleton-based development firm hopes to build 90 apartments for seniors on Milwaukee’s northwest side, according to documents filed with the Department of City Development...
High-rise managers buy 100 condos
High-rise managers buy 100 condos. A Milwaukee investors group has bought the 100 remaining unsold condominium units at the Landmark on the Lake tower for $10.8 million...
Will crisis reach farms?
Will crisis reach farms?. Credit still available, but economists worry about future ripples. Agricultural bankers say money is still available for farm lending, although the turmoil in U.S. financial markets has surfaced in the form of tighter credit and depressed crop prices...
Federal bailout doesn’t end flood of problems
Federal bailout doesn’t end flood of problems. That was the easy part. Congressional passage of the Bush administration’s $700 billion bank bailout plan was necessary to avoid the imminent collapse of the American financial system. If that happened, a deep and protracted global recession would have...
MMAC's economic indicators show more pain
A weak trend continued among local business activity indicators in August, as only five of 20 August indicators registered improvement from year-ago levels, according to the latest economic report by the Metropolitan Milwaukee Association of Commerce (MMAC).
Economy expected to remain sluggish
Economy expected to remain sluggish. Recovery may take months amid bailout. The $700 billion financial system rescue package passed by Congress should ease the national credit crunch, but it probably won’t prevent a further slowdown in the economy, at least in the short term, area economists...
Milwaukee area residential housing market shows stability
The Milwaukee area was the only major metro area in the United States that had an increase in residential real estate prices in July compared with July of 2007. –
Entrepreneurs insulated from roiling financial markets
Entrepreneurs insulated from roiling financial markets. The timing for the upbeat launch of BizStarts Milwaukee was poignant, given what’s going on in the financial markets on Wall Street and in Washington, D.C. The meltdown of the financial and political systems in the United States was the backdrop for...
Company that recycles brownfields finds success
Company that recycles brownfields finds success. Former industrial site near stadium is one of several area projects. Minneapolis-based development firm Real Estate Recycling Inc. occupies a special niche: It targets dormant industrial properties, known as “brownfields,” that are environmentally contaminated...
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