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Park Towne Development: News & Notes

The snow came and went and now it is time to move on to the golf season. Courses are opening soon; a rare treat for Wisconsin golfers.

Have a great week!

Joe 

 

Development News for the Week of:    3/3/2012 -  3/9/2012  

 

Mayor Paul Soglin wants a developer to include new Downtown Fire Department facilities in a proposed 14-story, mixed-use high-rise near Overture Center and State Street, a move that would dramatically expand the private piece of the project. 

 

BIG HOUSING, RETAIL PROJECT EYED FOR SOUTH PARK STREET

 

In another sign of rebirth for a worn Downtown gateway, a developer is proposing a five-story housing and retail project for the 500 block of South Park Street. The proposal by the Gallina Cos. would be the first big, non-student housing project on South Park Street in many years. 

 

AMERICAN FAMILY CHILDREN'S HOSPITAL TO EXPAND TO TWO FLOORS

 

UW Hospital plans to build two more floors atop its six-story, 61-bed American Family Children's Hospital, officials announced Monday. The new plan expands one announced last month to add 26 beds, including a 14-bed surgical neonatal intensive care unit, and other services. The new floors add $13 million to the cost of the project, now $45 million. Hospital officials said that within 10 years they also plan to add about 50 beds on the sixth and seventh floors and expand the pediatric emergency department, bringing the total upgrade to $88 million.

 

SCHUBERT BUILDING RELOCATION ON TABLE 

   

A motion adopted by the Urban Design Commission could open discussions for the possible relocation of a landmark building along Mifflin Street. Representatives from the Block 100 Foundation's design team pressed the UDC for a decision on the proposed green space at the corner of North Fairchild Street and West Mifflin Street, which would require the demolition of the Stark/Fairchild Building at 122-124 W. Mifflin St.

 

KIPP NEIGHBORS WANT SEAT AT THE TABLE AT CLEANUP TALKS

 

Neighbors say the state has not moved fast enough to investigate how deep and wide contamination - first identified in 1994 - from the toxic solvent tetrachloroethylene has spread into the neighborhood from the Kipp plant on Atwood Avenue.

 

WILL RAIL CROSSING DISPUTE SEND CENTRAL PARK PLAN BACK TO DRAWING BOARD? 

 

Madison wants state approval for a pedestrian crossing of the Wisconsin & Southern tracks at Few Street at what would be the entrance for the planned park, but railroad officials say doing so would be a hazard.

 

FOR SOME, MORTGAGE FRAUD ISSUES CROPPED UP BEFORE FORECLOSURE

 

Evidence that banks illegally cut corners when they sought to foreclose on mortgages has enabled some homeowners to stay in their homes. Others say the fraud happened before they even signed on the dotted line.

 

BANK PRACTICES CAUSE REGISTER OF DEEDS OFFICES TO BE FLOODED WITH FRAUDULENT DOCUMENTS 

 

It used to be that if you wanted to find out who owned your mortgage, you could go to the office of your local register of deeds. But when banks set up their own private registration system to help them bundle and resell mortgages, the land offices of record had no hope of keeping up.

 

 

UW-Madison is seeking to block a pair of property owners from razing two campus-area apartment buildings and replacing them with a single, larger apartment building, arguing the properties should be reserved for eventual university use.

 

 

Madison-based RDC Development will receive a $400,000 state grant to help reimburse the company for remediation costs associated with preparing the 27-acre former Royster-Clark site for a new use.

 

 

The UW Board of Regents approved two UW-Madison building projects at its meeting Thursday: an addition to a campus power plant at a cost of $64.6 million and the second phase of a student athlete performance center at a cost of $34.9 million.

 

PENDING SALES FOR DANE COUNTY HOMES AND CONDOS BOTH UP BY DOUBLE DIGITS IN FEBRUARY

 

Pending sales for single-family homes and condominiums in Dane County were both up in February, likely signaling an improved spring housing market, especially for cheaper houses in the first-time home buyers market. According to a February 29 review of the South Central Wisconsin MLS, pending home sales were up a solid 38 percent over last year, with prospective sales in the trickier condo market up a healthy 15 percent.

 

 
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 Around the State and Points Elsewhere
 

GOGEBIC TACONITE SAYS IT'S PULLING PLUG ON PROJECT AFTER SENATE FAILS TO PASS MINING BILL

 

Republican legislation meant to streamline mine permitting and clear the way for a $1.5 billion iron mine in northern Wisconsin failed to pass the Senate on Tuesday, and within hours of the vote, the head of the company looking to open the mine said the project was being dropped.

 

 

The 6-acre former Gallun tannery site, which overlooks the Milwaukee River north of downtown, is under contract for a potential apartment development by Fiduciary Real Estate Development Inc. and Opus Development Corp., the two firms said Wednesday. "Though there is no definitive plan for a development, the site's location on the river and accessibility to downtown Milwaukee would make it an excellent location for a multifamily development," said a statement issued by Fiduciary and Opus.

 

GERMANTOWN VILLAGE BOARD APPROVES LAND SWAP WITH MMSD

 

Now that the Village Board has approved a land exchange with the Milwaukee Metropolitan Sewerage District, the proposal's next hurdle comes with Friday's deadline for owners of a golf course in the center of the village to decide if they will sell to the district. In an intergovernmental agreement approved by the Village Board on Monday on a unanimous vote, the district's Greenseams flood management program would buy 131 acres of the Blackstone Creek Golf Club in the floodplain of the Menomonee River. MMSD has offered to pay $701,000 for the property along Mequon Road, east of River Lane.

 

 

A long-vacant parcel at W. Wisconsin Ave. and N. 27th St. could be partly filled by a new state office building under a proposal from a Milwaukee developer. Dennis Klein is hoping to land a lease to provide 48,700 square feet for the Bureau of Milwaukee Child Welfare in a building at that location.

 

 

Town of Brookfield officials will consider a proposal to create a Community Development Authority--a sign that negotiations are progressing on town financing help for a project anchored by a Von Maur department store. That proposal is on Tuesday night's Town Board agenda. The authority would be created in anticipation of the $100 million retail and office project, known as The Corners, said Rick Czopp, town administrator.

 

 

Downtown Milwaukee's Moderne high-rise is to be completed by September, ahead of schedule, according to the project's general contractor, J.H. Findorff & Son Inc. The 30-story building, with 203 apartments and 14 condos, recently staged a "topping off" ceremony, to mark reaching the highest point in its construction. That work started around a year ago. The Moderne, in the Park East redevelopment area at N. Old World Third St. and W. Juneau Ave., will include street-level retail space, one level of underground parking and six levels of above-ground parking.

 

 

An investors group owned by developer Dan Druml is seeking a $500,000 loan from a City of Milwaukee affiliate to help finance a south side office building. River Corner LLC would use the loan, from the Milwaukee Economic Development Corp., for a proposed 40,060-square-foot building at 1966 S. 4th St., just east of I-43. The agency's loan committee meets Tuesday to consider the request.

 

 

Fixed mortgage remain a bargain at the start of the spring-buying season: The average rate on the 30-year mortgage dipped this week, while the 15-year loan fell to a new record low. The average 30-year rate has been below 4 percent for more than three months.