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Park Towne Development: News & Notes

Have a great weekend.

 

Joe 

Development News for the Week of:    1/21/2012    -     1/27/2012  

 

SINGLE FAMILY HOME 2011 PRICE REPORT

 

The median December sales price for Dane County homes was $214,000 - down 10.8% from the December 2010 price of $240,000. The average December sales price of $259,280 decreased by 8.6% from the December 2010 average of $283,551.  The graph below shows monthly sales prices dating back to January, 2005. Each green data point represents a price increase from the same month of the prior year.  

 

HILLDALE OWNER AGREES TO SETTLEMENT WITH UW FOUNDATION, AVOIDING TRIAL

 

The Chicago developer that owns the Hilldale Shopping Center which is now in foreclosure has agreed to settle a lawsuit brought by the UW Foundation to avoid a trial that was to have begun next week. 

 

REVISED PLAN FOR 100 BLOCK OF STATE STREET BRINGS MIXED REACTIONS

 

The revised proposal for the 100 block of State Street was met with mixed opinions at a public meeting Monday evening. About 80 people, the majority of them Downtown residents, attended the meeting, which brought together developers and critics of the proposed redevelopment.

 

SHOULD VENERABLE BUT CRUMBLING VALLENDER BUILDING BE SAVED?

 

At first glance the brick building wedged into the triangular corner of Fairchild and State streets is nothing special. It's got peeling white paint, cracked walls, scuffed floors, and an ugly fire escape in the back that powerful patrons of the Overture Center across the street wish they didn't have to look at. Built in 1867 by a German immigrant named Franz Vallender, the old building seems all the more drab compared to its pretty next-door neighbor.

 

COMPANY PROPOSES BUILDING BIG SAND MINE IN DANE COUNTY

 

A major Wisconsin sand mining company is looking to build one of the controversial mines in Dane County, and at least one town is planning to strengthen its local zoning laws after landowners there were approached by the company and asked to sell their property.

 

TOMMY THOMPSON'S TRAIN PROBLEM

 

Tommy Thompson wants Wisconsinites to get one fact crystal clear: He does not support high-speed rail. The former Republican governor of Wisconsin, former high-speed rail booster and former chairman of the Amtrak board, says he wants nothing to do with any trains between Madison and Milwaukee.

 

NEW AIRPORT MAINTENANCE BUILDING APPROVED BY GOVERNOR

 

The Dane County Regional Airport will be getting a new facility to store snow removal equipment. Gov. Scott Walker announced on Wednesday that $1,368,421 has been budgeted for the new maintenance building...$1.3 million coming from the Federal Aviation Administration, $34,211 from Dane County and $34,210 from the state.

 

GOOGLE EXEC LEANRS FORM ENTREPRENEURS

 

Dave Sobota grew up on the West Side, sold popcorn at the Hilldale Theater and delivered the Wisconsin State Journal from his Radio Flyer wagon as he walked a paper route in the Nakoma neighborhood. Today, Sobota is a director of corporate development at Google, one of two senior deal-makers for the company.

 

 

 

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 Around the State and Points Elsewhere

 

 

 

The state Natural Resources Board on Wednesday unanimously approved spending $1 million to purchase 125.8 acres of grassland, woods and wetland in Waukesha County for a newly designated Paradise Valley Wildlife Area. The property owned by Ed and Vicki Schardt encompasses about 100 feet of shoreline on spring-fed Reagon Lake, a few miles south of Dousman, Department of Natural Resources real estate director Dick Steffes said.

 

DNR HAS NO PLANS FOR NEW LIMITS ON GROWING SAND MINING INDUSTRY

 

Mining for a special type of sand used in the energy industry is booming in western Wisconsin, and that's prompted questions on whether existing regulations are sufficient to protect the environment and public health. Department of Natural Resources officials said Wednesday there are no plans to advance new restrictions on the mines and processing plants, which have doubled in the past five months alone.

 

ELLSWORTH CORP. PLANS $9 MILLION EXPANSION

 

Ellsworth Corp., which makes industrial adhesives and coatings, plans to expand with a new facility in Germantown. Ellsworth plans to break ground this spring on a building with 75,000 to 80,000 square feet, said Will Repensek, chief operating officer. It would be completed by the end of 2012, he said.

 

CONSTRUCTION ACTIVITY INCREASED 12% IN 2011 OVER 2010

 

Construction activity in Racine County increased by 12 percent last year compared with 2010, according to McGraw-Hill Construction, which monitors the industry. New York-based McGraw-Hill tallies permitting activity for future construction projects. It said the value of those projects last year totaled $110.8 million compared with a 2010 total of $99.3 million.


FIRST DETAILS OF PROPOSED SCHOOL ACCOUNTABILITY SYSTEM

 

The state could more aggressively intervene in the lowest-performing publicly funded schools under a proposed accountability system unveiled Monday. The system would rate schools on a scale of 0 to 100 based on student performance and growth on state tests, closing achievement gaps and preparing students for college and careers. Ratings also would be tied to dropout rates and third-grade literacy levels.


WISCONSIN POSTS PROPOSAL FOR EDUCATION WAIVER

 

In a document that offers a road map for how the state intends to reshape the way progress is measured in Wisconsin's publicly funded schools, the state Department of Public Instruction on Monday posted a draft proposal seeking relief from mandates of a 10-year-old federal education law. The document contains elements that have been talked about in state education circles for months, such as a plan for implementing a school accountability system, and stresses that Wisconsin students will soon be held to a higher standard on annual statewide achievement tests.

 

STATE CONSIDERS TWO SITES FOR MILWAUKEE TRAIN MAINTENANCE

 

The state is considering building a more than $54 million train-maintenance facility either adjacent to the downtown Milwaukee station or in the City Lights redevelopment project in the Menomonee Valley. The facility would maintain trains that Talgo Inc.    .

 

NEW CONSTRUCTION BUILDS INTEREST IN BROWN COUNTY HOME EXPO

 

More people are looking to build new homes this year, and the construction business is viewing that as a good sign of an economic recovery. "We're starting to see more people thinking about building," said Mark LeMense, chairman of the Brown County Home Builders Association's Home Expo, which ran from Thursday to Sunday at the KI Convention Center in Green Bay. More than 4,000 people were expected to attend the expo, a slight increase over last year's turnout

 

DEVELOPERS EXPECT STRONG YEAR ALONG HIGHWAY 41

 

Oshkosh development officials expect a strong year of retail development along U.S. Highway 41 will help Oshkosh continue its recent run of region-leading commercial growth. Olive Garden, TJ Maxx and US Cellular have garnered early attention on South Koeller Street as they progress toward early spring openings, while Kwik Trip has plans a new convenience store on Ninth Avenue just east of Koeller Street early this year. Quietly, Oshkosh has become a regional leader in commercial property value growth over the last five years. The $77.9 million in commercial property value Oshkosh added in 2008 was tops of any Highway 41 community in northeast Wisconsin in the last five years, according to state figures.

 

 

The Plan Commission Wednesday unanimously approved preliminary plans for another building with space for seven stores at The Shoppes at Fox River on the city's southwest side.  Opus Development Corp., which developed the first phase of the 55-acre project beginning in 2008, sold that portion - including anchors Target and Pick 'n Save - last year to a Michigan-based firm. It kept 18 vacant acres for additional phases and has been negotiating with what the firm calls "junior anchors" and smaller shops and will initially build out four of the seven shops.

 

 

Little progress has been made in the last year to remove a big hurdle for creating a commercial and residential development at the former Mammoth Springs Cannery Co. site in Sussex, according to an article at Living Lake Country.com by reporter Kelly Smith.

 

 

The Muskego Common Council by a 4-3 vote on Tuesday night approved the $3.55 million purchase of two Little Muskego Lake parcels for a park. Aldermen Noah Fiedler, Neome Schaumberg, Tracy Snead and Keith Werner voted to buy the land, while Aldermen Neil Borgman, Kert Harenda and Dan Soltysiak opposed the purchase. Before the vote, a measure calling for a referendum to be held to allow voters to decide on the purchase failed. The 4.6 acres the city is acquiring is along Janesville Road near Pioneer Drive.

 

DEAL WITH CATEPILLAR MEANS JOBS FOR SUPERIOR

 

An alliance between Caterpillar Inc. and a Superior company will mean hundreds of new jobs for the area in the long term.  Exodus Machines said it will manufacture and supply material-handling machines for sale through Caterpillar's distribution network. Exodus employs 55 people as welders, machinists, engineers and in other jobs. Exodus president Bruce Bacon said the company expects to add more than 300 jobs in Superior over the next six to eight years.

  

KOHLS AND NORTHWESTERN MUTUAL PONDER SITES

 

But as 2012 begins, one commercial real estate development project overshadows the entire market and is being watched closely by industry insiders. Kohls Corp. is seriously considering plans to build a massive, new corporate headquarters of about 1 million square feet of space. The Menomonee Falls-based company is considering another site in that community and the Park East corridor in downtown Milwaukee for its new headquarters.

 

$4 MILLION SPECTRUM DEAL HAD A STEALTH COMPONENT

 

Spectrum Brands began its successful quest for a $4 million award from the state without revealing its identity or that it was already based in Wisconsin, public records show. Initial overtures were made by Harry J. Joseph, an Atlanta-based real estate consultant. Joseph did not disclose which company he represented when he asked the state in January 2011 "what incentives might be available to our client should they decide to consolidate in Wisconsin."

 

TRUSTING THE LAND TRUSTS TO PROTECT OUR HERITAGE

 

When I was first formulating the Stewardship Fund, our states landmark land conservation program, I rejected the idea that private conservation organizations should be eligible to receive public funds intended to purchase park lands and wildlife habitat. I was concerned that land purchases by private organizations might serve private instead of public purposes.

 

STATE FARM PROFITS HIT RECORD IN 2011

 

Here's some good economic news on the eve of Gov. Walker's State of the State Address: Wisconsin agriculture reported a record $2.4 billion in net income in 2011, up about 17 percent from 2010. Higher corn and soybean prices along with a rebound in milk prices were the reasons for the increase.

 

WALKER UNVEILS EDUCATION REFORM LEGISLATION

 

Gov. Scott Walker unveiled Thursday an education reform package that would rate schools, link teacher evaluations to student test scores and require all kindergartners to take a state-funded reading test starting next school year.