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Park Towne Development: News & Notes

My golf team qualified for the WIAA State tournament next week. It will be a fun couple of days at University Ridge; hopefully we can play our best golf of the year.

Have a great week!

Joe
 
Development News for the Week of:    5/26/2012 -  6/1/2012  
DEVELOPER SEEKS TO BUILD HIGH-END RENTALS IN BASSET NEIGHBORHOOD

The Downtown Madison condo market may be sluggish, but high-end apartments are the rage near Capitol Square.In the latest proposal, developer Les Orosz wants to raze seven buildings to build a roughly $5 million, four-story, 58-unit apartment building.

 

The Wisconsin Public Service Commission gave final approval Wednesday to a high-voltage transmission line from Minnesota to western Wisconsin.The 48-mile segment will cross the Mississippi River from the Rochester, Minn., area to west of Alma and then south to the Holmen area, at an updated cost of $211 million. 

 

PUBLIC QUIET ON COOPERATIVE PLAN

 

The Sun Prairie City Council's Committee of the Whole met jointly with the town of Windsor and village of DeForest boards May 29 for a public hearing on a proposed cooperative plan between the three municipalities. No formal action was taken at the meeting and the governing bodies will likely take action on the cooperative plan in early August. 
 
US SALES OF FORECLOSURE HOMES ROSE IN 1Q

Homes in some stage of the foreclosure process saw their share of overall U.S. home sales grow in the first quarter even as sales of bank-owned homes fell.The increase was driven by a spike in short sales, or homes that sell for less than what the owner owed on their mortgage, foreclosure listing firm RealtyTrac Inc. said Thursday.   

  

A gauge of Americans who signed contracts to buy homes fell in April from nearly a two-year high in the previous month. The decline was the biggest in a year. Still, sales are well ahead of last year's level for the same month, suggesting the housing market is improving slowly.  

 
 

 

  

 

 

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 Around the State and Points Elsewhere 

 

INVESTOR BUYING PARTLY COMPLETED STAYBRIDGE HOTEL

 

An investor that owns the loan used to finance downtown Milwaukee's partly completed Staybridge Suites building has agreed to buy the property for $12.4 million. 2010-1 SFG Venture, an affiliate of the Federal Deposit Insurance Corp. and New York-based Square Mile Capital Management LLC, submitted that high bid Thursday night at a court-ordered auction

 

US CONSTRUCTION SPENDING UP 0.3 PERCENT IN APRIL

 

U.S. builders increased their spending on construction projects for a second month in April. A pickup in home construction and commercial projects offset a fifth consecutive decline in government spending. Construction spending rose 0.3 percent in April, matching an upwardly revised 0.3 percent March gain.

 

FORMER ESSER PAINT, TOWER SITES GET CLEANUP GRANTS

 

The former Esser Paint site and Tower Automotive complex, both on Milwaukee's north side, will be getting additional federal grants to continue environmental cleanup work on those properties. The city Redevelopment Authority received a $200,000 grant, from the U.S. Environmental Protection Agency, to help pay for cleaning up hazardous substances.

 

DELAFIELD DEBATES DEVELOPMENT TAX INCENTIVES

 

A plan to provide real estate tax financing for public improvements in a proposed downtown residential development ran into stiff opposition tonight although it was approved by the Plan Commission on a 4 to 3 vote. 

 

PLAN COMMISION ADVANCES ZONING CHANGES FOR NORTH AVE.

 

A zoning change that would encourage the development of taller commercial buildings along E. North Ave. was recommended for approval Wednesday by the Milwaukee Plan Commission. The commission unanimously endorsed the proposal after it was changed in response to concerns from homeowners who live just a few blocks north of the avenue.

 

FORECLOSURE SUIT TARGETS PROPOSED OAK CREEK HOTEL SITE | SUIT ALLEGES DEVELOPER HAS DEFAULTED ON LOANS

 

An Oak Creek site near Mitchell International Airport, where a Chicago-area developer has proposed a Sheraton Four Points hotel, is the target of a foreclosure suit. A site near Mitchell International Airport, where a Chicago-area developer has proposed a Sheraton Four Points hotel, is the target of a foreclosure suit.

 

SUSSEX OFFICIALS NEGOTIATING FARM SALE | VILLAGE WANTS TO BUY MEISSNER LAND FOR DEVELOPMENT

 

Village of Sussex - Village officials have apparently been in secret negotiations with a private developer over the possible purchase from Johnson Bank of about 120 acres of farmland on the west edge of the village near Highway 164 and Silver Spring Road (Highway VV). 

 

SKILLED TRADES AMONG HARDEST JOBS TO FILL | 49% OF U.S. EMPLOYERS HAVE TROUBLE FILLING KEY POSTS, MANPOWER STUDY SAYS

 

A persistent dilemma of the Midwest industrial economy resurfaced in a new study by ManpowerGroup Inc. showing that skilled trades such as welders and electricians once again top the latest list of the most difficult-to-fill job openings. 

 

CANADA ACTS TO PROTECT GREAT LAKES FROM ASIAN CARP | JOINT EFFORT WITH U.S. GETS $17.5 MILLION

 

Canada said Monday that it will devote $17.5 million to protecting the Great Lakes from Asian carp, including development of an early warning system with U.S. agencies so authorities can react quickly if the invasive species is detected. 

 

 

After several boom years, the downtown Milwaukee condo market crashed as part of the U.S. housing bubble burst that was largely responsible for the Great Recession. Since then, condo development in downtown Milwaukee has been almost nonexistent.