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Editor Ken Harwood
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Production Notes
Every week I pull together several news articles and press releases on economic development and government issues affecting real estate and development in Dane County and Wisconsin for the staff at Park Towne Development. The links should take you to the original article and should remain active for a few months (depending on the source). To include a development related press release forward a PDF, MS Word document or active link to me by 1PM Thursday for inclusion in that Friday's release. We do not include offers of property for sale or other solely promotional material. Occasionally I include Editorial or Opinion pieces from other publications. Unless I am the actual author, these articles do not reflect my personal opinion or that of Park Towne Development. My goal is to make my colleagues aware of opinions being expressed in the media. If you would like a copy every Friday drop me a note and I will add you the list. If you would like others to receive this data you may email me their address and I will add them to our list. If you are really interested I have “back issues” from June 1st 2005, but hey that’s old news. Please let me know what you think. Ken |
News&Notes Development News for Dane County and WisconsinProvided by: Development News for the week of 3/23/07 to 3/30/07
John Williamson said a late start this year to the construction project planned for the 500 and 600 blocks of State Street may lead to a 40 percent drop in his business at Sports World, 510 State St., and to layoffs for two or three of the 10 employees.
“It's going to hurt everybody who's in business in the 500 block," he said. "There are some of the smaller shops that aren't going to be able to take a four- or five-month hit. “Williamson, who is among State Street merchants angry that the city has delayed the start… Mon Mar 26 2007 - Sales of new homes fell sharply for a second consecutive month in February, a weaker-than-expected performance that dimmed hopes for a rebound in the troubled housing market. The Commerce Department today reported that sales of new
single-family homes fell by 3.9 percent last month to a seasonally adjusted annual rate of 848,000, the slowest sales pace in nearly seven years. Sales fell 20 percent in the Midwest, which was plagued by bad weather… A Verona company will be part of a $1 billion plan to convert up to 20 hotels into waterpark resorts. Horizon Design Build Manage will work with Wave Development of Milwaukee, Sage Hospitality Resources in Denver and Hexagon Investments of Denver and
Milwaukee to transform underperforming business-class hotel properties in large suburban areas into CoCo Key Water Resorts, the company said Monday. The projects, scheduled for construction over the next two years, will include 40,000- to 80,000-square-foot waterparks and improvements to each hotel… Saturday, March 24, 2007 - The Bergamont golf course in Oregon will become a private club with a waterpark, tennis courts and a full-service clubhouse under a plan unveiled this week by the development's new owners. The Bergamont course would be modeled on
the Legend at Brandybrook, a golf course and upscale housing development in Wales, about 25 miles west of Milwaukee. It would be renamed the Legend at Bergamont, said managing partner Jack Gaudion. He said three busloads of current Bergamont residents are expected to visit the Wales development today for a tour and a party. Those residents will be offered club memberships when the golf course becomes a private club,
probably in the spring of 2009… BUILDING
PROJECT TARGET OF ARSON Tue Mar 27 2007 - Arson caused the early morning fire that destroyed a $13.2 million senior living center that was under construction, the police chief said Monday. A surveillance tape captured someone breaking into the construction site before the March 19
fire, Police Chief David E. Kirk… Tuesday, March 27, 2007 - Less than a year after being acquired by a Fortune 500 firm, Berbee Information Network Corp. plans to grow into two new buildings here. The technology services company, now part of CDW Corp., plans to lease two new facilities in
Fitchburg's New Technology Center, which is part of the Fitchburg Technology Campus. "This is retaining a corporate headquarters of a successful Fitchburg company in Fitchburg," said Chris Armstrong of Avante Properties, project owner and developer. "They're sinking in their heels in Fitchburg."… Assisted
Living Center To Be Built On West Side Tuesday, March 27, 2007 - Catholic Charities of the Diocese of Madison is planning to build a 60-bed assisted-living center in the All Saints Neighborhood on Madison's Far West Side. This will be the final phase of development of the All Saints
Neighborhood, adjacent to the O'Connor Center, according to Brian Cain, president of Catholic Charities. The new facility, near Watts Road and Plaza Drive, will consist of 40 units for frail and elderly care and 20 units for memory-care patients. The 39,000-square-foot assisted-living project is estimated to cost $9 million… It Takes A
Village - Avalon Development Has City, Residents Optimistic About Allied Revitalization Monday, March 26, 2007 - Cheryl Lewis feels right at home in her three-bedroom Avalon Madison Village loft apartment. It's roomy, with a washer and dryer and two full bathrooms. "The neighborhood is nice. There are lots of kids, and it's quiet over
here, too," said Lewis, a Madison Area Technical College accounting student and single mom whose three kids - ages 3, 5 and 9 - often watch movies in the complex's mini-movie theater while she does her schoolwork in the building's computer lab… Finest
Features In West Side Condos Sunday, March 25, 2007 Tiburon Condominium Homes Offer Upgraded Elements, Including Vaulted Ceilings And Maple Woodwork. Many condominium buyers come from apartments, and Mike Baker thinks they are eager to leave more than just rent behind. That's why
upgraded finishes were put in Tiburon Condominium Homes on the Far West Side at 8253 Mayo Drive off South High Point Road. "Many are first-time buyers coming from apartments," said Baker, a developer and an owner at First Weber, which has listed Tiburon. "They don't want to go from an apartment to an apartment." Tiburon has 30 units. Because of uneven terrain… Sunday, March 25, 2007 - A Healthy Economy Means Developers Are Building Beyond The 8,000 Hotel Rooms Now In The Area. Boxes of floor tile were piled in the seating area of the restaurant, the hallways were still being painted and the lobby elevators had no
up or down buttons to push. The salt-water fish tank needed to be filled late last week at the Holiday Inn Hotel at the American Center, but officials say they will open on schedule Friday and provide another option for the growing hotel market in Dane County."We'll be open," said Steph Sabo, vice president of sales and marketing for the 139-room, five-story hotel designed to cater to corporate travelers.
"It's amazing how things come together in the last week."… Development
Issues Key In District 5 Race Friday, March 23, 2007 - The district extends from Regent Street to Picnic Point and from Randall Avenue to Forest Hill Cemetery and includes all of the University of Wisconsin campus west of Babcock Drive. It has some of the oldest and most
well-established neighborhoods in the city, along with development opportunities. The whole University Avenue corridor is being looked at for redevelopment. Projects are already under discussion for the 1800 block of old University Avenue, where the Princeton House residence hall sits, and for the 2500 block of University, where Lombardino's restaurant is located… Verona Council revives persistent basement 3/29/07 - The City of Verona has gone back to the basement. Two weeks after reversing course and voting against a proposal to add a lower level to the new municipal building, the Common Council changed its mind yet again Monday night. Alders decided on the
slimmest of margins – a 3-3 vote with Mayor Jon Hochkammer casting the tie-breaker – to have Bray Associates Architects include a 2,400-square-foot basement that would house the mechanical systems and a little bit of storage space. That choice likely will stretch the cost of the building beyond the initial $7 million cap alders called for in December when they approved the plans… Editors Note: I am a member of the Verona Council… State
Unemployment Edging Higher Friday, March 23, 2007 - Although Wisconsin had 13,500 more jobs in February than a year earlier, the state's seasonally adjusted unemployment rate rose to 5.0 percent from 4.8 percent a year earlier, state labor officials reported. The rate represents the
portion of the labor force actively seeking work but not finding it, so even with more people employed the rate can rise if a greater number are seeking jobs. Total nonfarm employment in Wisconsin in February was estimated to be 2,807,400, the state Department of Workforce Development reported… New Owners
Drive Bergamont Forward Friday, March 23, 2007 - With spring in full swing, the new owners of the $300 million Bergamont golf course and real estate development here are ready for a new start. To that end, they have changed the name to the "Legend at Bergamont" and hope
to start work soon on a multi-million dollar clubhouse, tennis court and swimming pool to serve the 523-acre development. "I know the village board is very happy," Oregon Village Administrator Mike Gracz said today. "Everybody wants to see this move forward." A deal closed this week that transfers ownership of the project from nearly 40 original investors to a Milwaukee-based group… Madison
Company Is Building Biodiesel Refinery Friday, March 23, 2007 - While some would-be biodiesel producers are thinking big with plans to pump out tens of millions of gallons of fuel each year, one Madison company is betting that small-scale production will be a key to its profitability. BEST
Energies, headquartered at 8000 Excelsior Drive in Madison, was formed last year when former commercial real estate executive Neil Young and other investors purchased the assets of a Cashton biofuels startup, Generation International. The group also acquired the assets of Biomass Energy Services and Technology (BEST) of Somersby, Australia, and kept the acronym as its name… Lore In
The Floor At Tony Frank's Friday, March 23, 2007 - CANADA DRY made a killing with its ginger ale during Prohibition in the 1920s, mainly because as a mixer it was effective in blunting the strong taste of bootleg liquor. When Prohibition ended in 1933, Canada Dry decided to get into
the liquor business itself. It began manufacturing Canada Dry gin. "I never knew they made gin," Jim Frank was saying Thursday. Frank, 52, knows now. He knows because the other day, when he tore up the floor of his venerable tavern… Around The State and Points Elsewhere Wisconsin foreclosure
rate above U.S. average TUE., MAR 27, 2007 - Conservative lending practices and stable property values are helping Wisconsin avoid the high foreclosure rates of some other states, but by some measures, the state is performing worse than
national averages. Subprime loans represented about 11 percent of Wisconsin's 567,488 outstanding mortgages in December, according to the National Delinquency Survey issued this month by the Mortgage Bankers Association. The survey found that Wisconsin had 5.65 percent of its subprime loans in foreclosure at the end of 2006… Brew Town
Gets Some State Help WELL, AT LEAST GOV. DOYLE IS TALKING THE TALK ABOUT TURNING THE STATE'S LARGEST CITY BACK INTO AN ECONOMIC GENERATING ENGINE. "For Wisconsin to thrive, we need a Milwaukee that is strong, safe and prospering," Doyle said last week as he announced
some $16.8 million in state funding for the Milwaukee area. No kidding. Doyle's proposal includes $12.5 million for the Medical College of Wisconsin, $3 million for a new UW-Milwaukee engineering campus, $500,000 for a School of Public Health at UW-M, and $800,000 to help redevelop the former Pabst brewery… Pointe Blue funding in place, construction set to begin Mar 29, 2007 - RACINE - Financing for Pointe Blue, which will be this city's largest development project ever, is now in place. Tuesday's announcement by the developer ... More retail space in Franklin proposed More retail space in Franklin proposed. Another major retail development proposal has surfaced in Franklin... From the ground up. Construction of Harley-Davidson museum rumbles on. The construction of Harley-Davidson Inc.'s museum complex just south of downtown Milwaukee is continuing, with the project scheduled for completion in 2008... Fifth Ward development could include helipad Wednesday, March 28, 2007 - Rivianna, a proposed Fifth Ward condo and hotel development planned by developer Bob Schultz, could include a unique amenity in Milwaukee: helicopter air taxi service to Chicago. Rivianna would have a 100-room hotel and 192 condominiums at 236 S. Water St., along the south side of the Milwaukee River. The building would have three 11-story towers built on top of a four-story base building. Office building planned for Third Ward Published March 30, 2007 - Nashotah-based Hawley Strigenz LLC plans to build a five-story, 150,000-square-foot office and retail building at the northwest corner of Milwaukee Street and Menomonee Street in Milwaukee’s Historic Third Ward. The five-story building, called Catalano Place on the Park, would have about 65,000 square feet of office space, 20,000 square feet of first floor retail space and 158 indoor parking spaces. Details of the project could change, but the building will have as much as 30,000 square feet of office space on a floor. “A 30,000-square-foot floor plate, that’s going to be the largest floor plate downtown,” said Marianne Burish, a principal with Siegel-Gallagher Inc., which is marketing the building. “No one else has a floor plate that big.”… Community Briefing. New community center design concept backedNew Berlin - Plans for the city's new community center, which will include space for the New Berlin Food Pantry to lease, were solidified this week when the Common Council voted in favor of a proposed conceptual... Gift may spare museum. $5 million donation meant to spur fund-raising drive to avoid bankruptcy. A $5 million donation to Milwaukee Public Museum announced Thursday was timed to help spark a broader deal to bail out the financially troubled institution in which Milwaukee County,... New development proposed in Research Park New development proposed in Research Park. Mayfair Woods would be business, technology center. A developer is asking the city for financial assistance to build a parking structure and surface parking for more than 600 vehicles at the Milwaukee County Research Park... Retail center would revamp troubled area Retail center would revamp troubled area. But planners encourage a more stunning facility. The Franklin Plan Commission has reviewed a concept plan for a 225,000-square-foot retail center in an area some in the community consider to be a bit of an eyesore... Committee rejects purchase, sale agreement with developer Committee rejects purchase, sale agreement with developer. A committee this week recommended, 5-3, against signing a purchase and sale agreement with Cobalt Partners Inc., an agreement the developer hopes will set off a chain reaction resulting in a land swap with Milwaukee County, giving the developer rights... Committee approves condo project at 68th and Wells Committee approves condo project at 68th and Wells. Despite objections of neighbors, a developer who wants to build a condo and commercial development at the corner of North 68th and Wells streets got a nod of approval from a committee March 27... Investors full of hope for empty buildings Investors full of hope for empty buildings. Plans for prime downtown spots include hotel. A group of empty, crumbling buildings in a high-profile downtown Milwaukee location are getting new attention from investors, but at least one owner remains unsure of what he'll do with his properties... Upscale & downtown. Luxury additions expected to boost business. Hotels that cater to high-end business travelers have long marketed their properties as bastions of luxury and service, featuring graciously appointed suites, gourmet restaurants and such amenities as fitness... Suburbs trying to create a sense of community Suburbs trying to create a sense of community. Urban features imported to prairie. Right now, City Hall is in a doublewide trailer where the power just went out... Clean lines, simple style of mid-century design recapture era of good feeling Clean lines, simple style of mid-century design recapture era of good feeling. When it comes to mid-century modern design, you either love it or you hate it... MALL OF
AMERICA SEEKS TO DOUBLE ITS SIZE Sat Mar 24 2007 - The Mall of America was the biggest indoor mall in the country when it opened in 1992. It wants its top spot back. The mall, now the nation's third-largest by retail square footage, is planning an expansion that would more than double its
size by adding a 6,000-seat music theater, hotels, and an ice rink… Grants
Given For Evansville Project Tuesday, March 27, 2007 - North Prairie Productions has been awarded $250,000 in state grants for its Evansville biodiesel refinery. The money -- matching $125,000 grants from the Transportation and Commerce departments -- will be used to help the city pay
for road construction and a new water main for the 45-million-gallon plant. Ground was broken for the project Monday… $2
Million for 2007 Local Comprehensive Planning Grants Grants will Help 145 Local Governments Plan for Economic Development and Maintain the Quality of Life in their Communities. Governor Jim Doyle today announced grants totaling more than $2 million to help communities develop and adopt locally-created plans
to address long-term needs, promote economic development, and guide future land use decisions. The Governor awarded the 2007 Comprehensive Planning, or “Smart Growth,” grants to 12 applicants that cover 145 counties, cities, villages, and towns with a cumulative population of over 350,000 people. “Wisconsin’s Smart Growth program… Dept.
of Commerce. $51,000 for economic development in Fall River (water improvements in industrial park). Janesville Gazette. $60 million Evansville facility will be largest in Wisconsin. We
Energies has purchased 88 wind turbines March 29, 2007 - We Energies has purchased 88 wind turbines from Vestas Wind Systems for construction of the Blue Sky Green Field wind project in Fond du Lac County. Each Vestas V82 turbine is capable of producing 1.65 megawatts of electricity for a project
total of 145 megawatts, or enough energy to power approximately 36,000 homes. The venture is the state's largest wind project to date. Construction is expected to begin this summer and will take approximately one year to complete. Six months will be needed for site preparation and the installation of turbine foundations and cabling. An additional six months will be required for turbine erection, assembly and
commissioning… Miller
Brewing Co., announced that its Russian operations will invest approximately $170 SABMiller plc, the parent company of Milwaukee-based Miller Brewing Co., announced today that its Russian operations will invest approximately $170 million in the construction of a new brewery outside the city of Ulyanovsk. Ulyanovsk, which lies along the
Volga river, has road and rail links and is home to several raw material suppliers. The new brewery, which will have an initial capacity of 3 million hectoliters… Editors Note: hectoliters???? Development
News for the week of 3/16/07 to 3/23/07 County due millions in
delinquent taxes
FRI., MAR 23, 2007 - Dane County property owners owe $22.3 million in delinquent property taxes, with a student-housing landlord topping the list at nearly half a million dollars in back taxes, not counting penalties and interest. Allan Beauchaine, 63, a
longtime Madison real estate developer who recently moved to Florida, owns 20 rental properties that are three to four years overdue on taxes… Shoppers may get to taste brew
FRI., MAR 23, 2007 - With flavors such as apricot and chocolate - and prices as high as $9 to $10 per bottle - the newest specialty beers might make some shoppers hesitate before they buy. But consumers would get a chance to savor samples of beers in
grocery and liquor stores before buying, under a proposal by a bi-partisan group of state lawmakers. SAT., MAR 24, 2007 - To help collect delinquent rent checks and to help fill vacant student housing, Madison landlords are seeking the option of offering free kegs to students who occupy their properties and pay their rent on time. One landlord states, “We
feel the Keg incentive will offer substantial marketing opportunities especially to the freshman market.” A student, when asked about the policy stated, “I am not certain that this is in the paramount interest of higher education and the strict moral standards of our institution.” Our investigation, conducted bedside from his hospital room, suggests he was only visiting the UW from… UW medical group tabs
Middleton
FRI., MAR 23, 2007 - MIDDLETON -- In the latest employment coup for the suburbs, the UW Medical Foundation is consolidating its administrative operations here in a new $20 million building in the Discovery Springs development. Some 800 employees of the
medical group could eventually be accommodated in 200,000 square feet of office and warehouse space west of the Beltline and north of U.S. 14. It includes 775 surface parking spaces… Building
Commission Oks Budget Tuesday, March 20, 2007 - Gov. Jim Doyle highlighted spending proposals on Monday that would make improvements on four University of Wisconsin System campuses, increase economic development in Milwaukee and move forward with a research center in Madison
designed to make the state a leader in biomedical research. The governor's $1.3 billion capital budget, which includes $460 million in state funds with the rest coming from the federal government and other sources, won approval from the Building Commission on Monday but still must pass the Legislature… PSC won't OK independent
study
FRI., MAR 23, 2007 - A citizens' group is calling for an overhaul of the state Public Service Commission, after commissioners said Thursday they will not authorize an independent study into the need for new electrical transmission lines in the Dane County
area. The PSC said its own staff is knowledgeable enough to make the decision… FRI., MAR 23, 2007 - NameProtect, a Madison technology company, is being sold to Corporation Service Co., of Wilmington, Del. Terms of the acquisition are not being disclosed. NameProtect, founded in 1997 by Madison serial entrepreneurs Brian Wiegand and
Mark McGuire, researches trademarks and monitors the Internet for abuse of brand names… Union
Corners Ho! Major East Side Redevelopment Gets Final Ok Tuesday, March 20, 2007 - After some four years of planning and discussion, things are finally falling into place for the ambitious redevelopment of Union Corners. The Madison Plan Commission Monday night unanimously approved a revised final plan from
McGrath Associates for the $60 million first phase of the project at the corner of East Washington Avenue and Milwaukee Street… Copps
Opens; Other Stores May Follow Wednesday, March 21, 2007 - More Food Choices In Sun Prairie Reflect Dane County Trend. A Woodman's, For Sure, A Supertarget, Possibly, And A Large Retail Development Are On Horizon For Sun Prairie. The aisles of the Copps Food Center here were crammed
Tuesday with shoppers eager to check out the newest grocery offering in Dane County. But the 60,000-square-foot store at the corner of highways C and 19 on Sun Prairie's west side may soon have more competition. And for those who shop, a lot more choices. An official with Janesville-based Woodman's Food Market said this week that the company would bring plans to Sun Prairie officials within the next two months for a
200,000-square-foot store near highways C and 151. Across the street from the 25-acre Woodman's parcel, Prairie Development is working on a 105-acre project that would include 890,000 square feet of retail (by comparison East Towne Mall has 839,000 square feet) and which might include another large grocery store… Rough And
Elegant - New Cinemas At Hilldale To Reflect Redford's Style Thursday, March 22, 2007 - The Sundance 608 Cinemas will open in seven weeks at Hilldale Shopping Center -- and a river runs through it. Well, a river motif, anyway. Sundance honcho Robert Redford's 1992 film "A River Runs Through It" definitely
comes to mind as one tours the work-in-progress facility and sees the flowing blue-and-ocher color scheme and exposed stone and oak walls. Sundance officials gave local media and dignitaries their first inside glimpse of the six-screen theater Wednesday… Rowe to launch pottery
venture
TUE., MAR 20, 2007 - Jim Rowe is back in the pottery business. Rowe, who started Rowe Pottery Works in 1975 and lost it in a liquidation sale three years ago, is opening Cambridge Stoneware Co. with a $120,000 business loan from Dane County's Community
Block Grant Fund. He plans to run the business out of the old Rowe Pottery store at 217 W. Main St. in Cambridge, a few blocks from Rowe Pottery Works. He still owns the building… Baird adds new capital for
investing in companies
MON., MAR 19, 2007 - Baird Capital Partners - with offices in Milwaukee, Chicago, China and India - has raised $300 million in venture capital and is closing the fund to new investors. The money is targeted toward manufacturers and business services
companies valued at $25 million to $125 million. "We invest nationally, but we expect to see quite a few Midwest opportunities," said Paul J. Carbone… What's ahead: Experts offer
a mixed outlook for the economy
SAT., MAR 17, 2007 - The housing market was the elephant in the room Friday at the semi-annual Economic Outlook Conference at UW-Madison's Fluno Center for Executive Education. The four featured economists differed on the expected impact of the housing
market slowdown. They also addressed the potential for recession and the impact of overseas economies on the United States… Subway,
Coffee Shop To Library Mall Wednesday, March 21, 2007 - A Subway sub shop and Bean Boulevard Cafe coffehouse are scheduled to open in August below Pres House at 731 State St. on the Library Mall. Victor Allen's coffee will be served at Bean Boulevard, adjacent to the Subway, which
will seat 50 in newly renovated space that will include a sunken outdoor patio. The facility will be linked by a secure underground passageway to the new Pres House Residence apartment building."There is a market on campus for this kind of place," Vimal Patel, the Subway franchisee… Area
Construction Projects Are Cited Sunday, March 18, 2007 - Four recent Madison area construction projects have won awards for the use of concrete. Phase 2 of the Madison Overture Center was given a residential concrete design award. Epic Systems' national headquarters in Verona received the
commercial concrete design award. The Madison/Fitchburg IMAX Theater was given the insulated concrete form award while Monroe Street Commons received a concrete design award… Waunakee
Has Plan To Handle Eyesore Downtown Sunday, March 18, 2007 - The vacant property at 106 N. Madison St. in Waunakee's downtown was strewn with junk. Doors to the garage and a small shed hung open and askew. Chunks of concrete from a retaining wall framed the entry sidewalk, and burn barrels
shared lawn space with refuse. A village ordinance says any vacant building with open windows… Culver's
Brings Blue Spoon Cafe To Middleton Saturday, March 17, 2007 - Madison fans of The Blue Spoon Cafe, Culver Franchising Systems Inc.'s upscale eatery, no longer have to travel to Prairie du Sac for a glass of wine and sandwich. CFSI has announced plans to open a second Blue Spoon this summer
in Middleton. The new Blue Spoon Cafe will anchor a new strip mall development at 2831 Parmenter St. across from Culver's Butterburgers and Frozen Custard, one of CFSI's six corporate stores. The new development, of which the Blue Spoon will occupy 6,000 square feet on two floors, is co-owned by Mortenson Investment Group LLC and Food Concepts Inc., a nearby manufacturing firm that provides merchandising systems for the
food service industry. CFSI has been looking for a Madison-area location for the second Blue Spoon for two years, said Mike Boss, the Blue Spoon's director of operations and development… Powerhouse
Park Panel Picked - 12 Community Leaders Charged With Creating Central Park Plan Friday, March 16, 2007 - It's not going to be a walk in the park, but the transformation of an old rail corridor on the east side of the isthmus is one step closer to fruition. Mayor Dave Cieslewicz announced today the 12 community leaders who will form a
team assigned with designing and implementing the plan for Madison's central park, which is intended someday to be among the city's most striking features. Among the Central Park Design and Implementation Task Force members are former Madison Mayor Joe Sensenbrenner; Nancy Ragland, the recently retired director of Olbrich Botanical Gardens; Madison Park Commission Chairman William Barker; and Phyllis Wilhelm, director of
economic development at Madison Gas & Electric…
Around The State and Points Elsewhere Marcus
to buy 11 theaters for $75.7M Thursday, March 22, 2007 - Marcus Theatres Corp. will expand into Iowa and North Dakota and bolster its presence in Wisconsin and Minnesota with the acquisition of 11 theater complexes from Cinema Entertainment Corp. for $75.7 million. Milwaukee-based
Marcus Theatres, which is part of Marcus Corp. (NYSE: MCS), will add 122 movie screens in metropolitan areas including St. Cloud and Duluth, Minn./Superior; Fargo, N.D./Morehead, Minn.; Waterloo/Cedar Falls, Iowa; and Iowa City, Iowa. The acquisition will give Marcus 628 screens at 52 locations and make it the seventh-largest movie exhibitor in the United States. "Cinema Entertainment Corporation is an excellent
theater operator… Ghazi
kills tenant rumors for downtown project Contrary to numerous recent media reports, The Ghazi Co. is not planning to bring a House of Blues, Hard Rock Café or an ESPNZone to its proposed downtown Milwaukee development. Afshin Ghazi, president of the
Charlotte, N.C.-based company, recently stomped on those reports while testifying before the city's Zoning, Neighborhoods and Development Committee… Hofbrauhaus
at Pabst brewery expected to open next year Wednesday, March 21, 2007 - The Hofbrauhaus microbrewery and restaurant, which Cincinnati Restaurant Group Inc. plans to open in the former Pabst brewery complex in downtown Milwaukee, should open by summer of 2008 said Jim Haertel, president of Brew City
Redevelopment Group LLC. "We will be brewing beer here again at this site in 2008," he said. Haertel owns the former gift shop, visitor's center and corporate offices at 901-17 W. Juneau Ave. in the former Pabst brewery complex. The Hofbrauhaus would occupy the first floor of the two joined buildings that Haertel owns. The Hofbrauhaus could be the first… Public market gets fund-raiser Public market gets fund-raiser. She'll be development director; Third Ward group takes reins. The Historic Third Ward Association formally has taken over operation of the Milwaukee Public Market, and it has hired a well-connected political fund-raiser as its development director... $19 million sought to start bank in Sheboygan $19 million sought to start bank in Sheboygan. A husband-and-wife team with experience in both regulating and operating banks is planning to raise more than $19 million to start a new bank in Sheboygan... A jewel has become rough. Owner to learn fate of proposal for city help. It's the only building in Milwaukee designed by Chicago's visionary city builder Daniel H. Burnham and his firm. But the stately tower at 735 N. Water St., home to PrivateBank, is showing its age... Business park efforts move ahead in Cedarburg Business park efforts move ahead in Cedarburg. Sewage lift station contract signals progress in ongoing push. The Common Council on Monday awarded a Waukesha engineering firm the contract to design a sewage lift station near Sheboygan Road and Highway 60... Tax district a $150 million success story Tax district a $150 million success story. Renaissance business park helps push up value in Sturtevant. The village's tax incremental financing district, made up mostly of The Renaissance business park, has a value of nearly $150 million, almost half of the assessed value of the entire village... It'll be slow, but economy should grow It'll be slow, but economy should grow. Despite rough spots, analysts don't foresee recession. A slowdown in manufacturing, triggered as consumers have pulled back on spending for big-ticket items such as automobiles and appliances, hasn't been enough to sink the overall economy... Loans sinking borrowers, lenders Loans sinking borrowers, lenders. High-risk mortgage firms paying price as foreclosure filings rise. With a little doctoring of loan documents, Patricia Tamillo was "cured" of multiple disabilities and her meager income was boosted... March 22, 2007 - With a still-shaky financial future and disappointing attendance, Milwaukee Public Museum officials are seeking legal advice on declaring bankruptcy for the non-profit entity that runs the 123-year-old institution. Bankruptcy is seen as a last-ditch option, and a panel appointed to draft a recovery plan for the museum still hopes for a negotiated deal in which the major players each would shoulder some of the burden of a bailout. "Nobody wants to go down that road, because of the uncertainty for everybody," museum President Dan Finley said of a bankruptcy. "Everybody wants to work this out without a legal umbrella over the process." Finley acknowledged that the museum has consulted with an attorney for McGuireWoods, a large Chicago firm that includes bankruptcy law as a specialty. He said the firm had not yet been hired. The museum also is discussing the bankruptcy issue with a local firm… Downtown housing/entertainment complex pitched Downtown housing/entertainment complex pitched. Proposal is second to include Aloft Hotel. A developer who hopes to build a $120 million housing, hotel, office and entertainment complex near downtown Milwaukee's Midwest Airlines Center said Thursday that his tenants could include several destination... Wal-mart
Opens Beaver Dam Center Saturday, March 17, 2007 - Wal-Mart has opened a regional distribution center in Beaver Dam. The 1.2 million-square-foot facility on the city's north side on Highway A east of Highway 151 employs about 650 people, according to the company. The center will
be used for the distribution of general merchandise to Wal-Mart stores in portions of eastern and southern Wisconsin, western Michigan and northern Illinois. It is the third distribution center in the state for the Arkansas-based company, joining similar facilities in Tomah and Menomonie. DATCP.
Governor Doyle announces $40,000 Value Chain grant to Packerland Whey Products. Rep.
Kind. Announces $3.5 million for Necedah Wildlife Refuge visitor's center. Development News for the week of 3/09/07 to 3/16/07 CEO Started As Receptionist - Mary Feldt Helped Park Towne Develop Much Of Madison's West Side Sunday, March 11, 2007 - Mary Feldt, who grew up in Monona, began working as a receptionist at Park Towne in 1970. Today, she's chief executive of Park Towne Management, a sister company of Park Towne Development. She helped Park Towne develop a large
chunk of Madison's West Side including Market Square shopping center. Now the company is developing Conservancy Place… Editors Note: Congratulations Mary on a great article and for your outstanding contributions to our community. State Proposes Development At Hill Farms Site - Dot Would Stay Amid Greenspace, Hotel, More Wednesday, March 14, 2007 - About 120 west side residents urged preservation of their community garden and voiced other reactions Tuesday night to a redevelopment concept for Hill Farms, the 22 acres of state-owned land between University Avenue and
Rennebohm Park. The Department of Administration wants to see the land transformed from a windswept expanse of asphalt to an urban environment where businesses, greenspace and housing create a miniature 24-hour city where the lights don't all shut off at 5 p.m. as workers head home… Public Can Provide Input On Hill Farms
Wednesday, March 14, 2007 - State's Concept Includes A Retail Project And A New Home For The Wisconsin Dot. The state of Wisconsin, which has been quietly testing the waters for more than a year on development of its 21-acre Hill Farms property on
Madison's West Side, has started to hold public meetings on its plans. The "employment district" concept the state is floating includes residential and retail development as well as a new home for the Wisconsin Department of Transportation and the 3/4-acre community gardens… Budget Has $1.7b In Hikes - Doyle Plan Includes Higher Taxes, Fees Saturday, March 10, 2007 - The two-year state budget proposed by Gov. Jim Doyle includes $1.74 billion in higher taxes and fees, with the biggest single amount coming from a $1.25-cent-per-pack rise in the cigarette tax, according to a Legislative Fiscal
Bureau report. The report made public Friday said Doyle's budget plan includes increases of $506 million from raising the cigarette tax to $2.02 per pack, $417 million from a new tax on hospitals designed to bring in more federal Medicaid dollars, $272 million from a tax on profits of big oil companies and $142 million from a doubling of the transfer fee when real estate is sold. The Legislature is to begin its review next
week of the budget… West End takes biggest step yet 3/15/2007 - It could be argued that the discussion of the West End at Monday night’s Common Council meeting was all for show. Only one alder gave any indication that he had not already made up his mind before the evening began, and even if he’d voted
the other way it would not have changed the outcome – a narrow victory for T. Wall Properties and the beginning of a new era for retail in Verona. The 5-3 approval of the general development plan in front of a packed house at City Hall was the most concrete step in the three-stage planned-unit development process for the now well-known 62-acre mixed-use plot of commercial and retail development inside the 18-151 bypass.
It allows developer Terrence Wall to begin marketing the West End in earnest, bringing in potential lessees for roughly 1 million square feet of retail, office, hotel and apartment space that’s planned… THU., MAR 15, 2007 - Median household income in Wisconsin fell below the national median in 2005 for the first time since 1985, according to a study issued Wednesday by the Wisconsin Taxpayer Alliance. The state's 2005 median household income was $44,650,
below the national median of $46,326. From 1999 to 2005, Wisconsin's median household income was down 2.2 percent while nationally it was up 13.8 percent. Mayoral Candidates Spar About Business Thursday, March 15, 2007 - Mayor Dave Cieslewicz brought a laid-back review of his administration, complete with figures and examples that he said show mutual success for progressives and business owners. Challenger Ray Allen, halting and direct, took some
rhetorical shots that got laughs, maintained that more emphasis should be placed on basic services and returned frequently to the word "proactive." Allen, Cieslewicz Focus On Business Thursday, March 15, 2007 - Madison's mayoral candidates presented clear but differing visions for the city's economic future at a debate Wednesday night. EDITORIAL - Tenney-lapham Group Backs Increase In Density As Part Of Balanced Growth Wednesday, March 14, 2007 - Dear Editor: In his column on the East Washington BUILD Plan, Mike Ivey gets it wrong when he characterizes the Tenney-Lapham Neighborhood Association's letter to Mayor Dave Cieslewicz as opposing density. As I expressed to the
mayor: "The new Tenney-Lapham Neighborhood Plan looks forward to significant future development along the north side of East Washington Ave. from Blair to First Streets (our overlap with the BUILD)." … Mayor Has 'great Park' In Mind Wednesday, March 14, 2007 - After the April 3 general election, Dave Cieslewicz and his wife, Dianne, are "going to decompress and go someplace quiet," in the words of the mayor. "We're going to New York," he said, drawing laughter from
an audience of about 150 who attended a program Tuesday night at the Overture Center, where Cieslewicz spoke along with Edward Uhlir, the director of design, architecture and landscape for the hugely successful Millennium Park in Chicago. "There is a reason for that," said Cieslewicz. "We're actually going to stay very close to Central Park. We love cities."… Analyze This / Fitchburg Biotech's Deal "a Business-changing Event' Wednesday, March 14, 2007 - A local biotech company is eyeing major growth after acquiring platform technology from global pharmaceutical giant GlaxoSmithKline Inc. Fitchburg-based GenTel BioSciences makes protein chips that can be used to PSA (prostate
specific antigen) level to whether a drug is having the desired effect on a person… Construction To Start On Oakwood Nursing Home Wednesday, March 14, 2007 - Construction begins today on a 42-bed nursing home on Oakwood Village's east campus at 5565 Tancho Drive near American Family Insurance. The $7.8 million Oakwood Village East Health and Rehabilitation Center, expected to open in
March 2008, won't exclusively serve Oakwood Village residents, said Keith VanLanduyt, marketing, public relations and admissions director… Council Approves Building Projects Wednesday, March 14, 2007 - Verona's City Council approved two large building projects on the city's west side on Monday. A development that would include up to two big-box stores of a combined 269,000 square feet, other retail sites, residential space,
offices, a hotel and green space passed by a 5-3 vote. It is called the West End and is proposed by Terrence Wall, who must still complete a traffic impact analysis and storm-water management plan. The 62-acre project is slated for 7277 Half Mile Road, a mile west of downtown… Tuesday, March 13, 2007 - Two new upscale apartment projects eyed for "Old University Avenue" should test how much urban density longtime Madisonians can embrace. One proposal is from the Mullins family for a 14-story, 190-unit high-rise apartment tower at University Avenue and Highland Avenue, behind the venerable Lombardino's restaurant. The Italian eatery would stay but just about everything else on the 2500 block of University will go, including Lulu's restaurant which is eyeing a move just a block away… Around The State and Points Elsewhere Sunday, March 11, 2007 - Dairy Farm Couple Among 32 Families That Signed Away Development Rights On Their Land. Retired dairy farmers Leon and Patsy Boettcher are leaving a legacy to their six grown children, but they're also leaving one to the Baraboo
Hills. The Boettchers, of Honey Creek, were among 32 families who signed away development rights for their Baraboo Hills properties through the state Department of Natural Resources' Forest Legacy Program. It wasn't a tough decision to ensure that the hilltop farmhouse where they raised six children -- four girls in one bedroom and two boys in another -- would forever remain the only home on those 323 acres, Patsy
Boettcher said. Downtown housing/entertainment complex pitched March 15, 2007 - Downtown housing/entertainment complex pitched. Proposal is second to include Aloft Hotel. A developer who hopes to build a $120 million housing, hotel, office and entertainment complex near downtown Milwaukee's Midwest Airlines Center said Thursday that his tenants
could include several destination... Development's second phase almost complete; third to begin this year March 15, 2007 - Development's second phase almost complete; third to begin this year. A development at the intersection of Appleton Avenue and Good Hope Road is almost halfway finished... Foreclosure filings soar -- Uncharacteristically, state worse than U.S. Posted: March 13, 2007 - America's home loans proved oversized for its wallets at the end of last year: New mortgage foreclosure filings hit a 37-year high. New foreclosure filings totaled 0.54% of all loans in the fourth quarter, bringing the total of mortgages in some stage of foreclosure to 1.19%. Another ugly surprise reported Tuesday by the Mortgage Bankers Association was that Wisconsin, long known for superior bill-paying performance, had a foreclosure rate worse than the nation's - 1.42% of all loans in the fourth quarter. Three factors undermined mortgage holders last year: lenient lending standards, sharp upticks in short-term interest rates and a shrinking housing market, said Doug Duncan, the association's chief economist and senior vice president. Condo, retail project emerges. Building proposed for village-owned parcel in Shorewood. A local developer wants to build a condominium and retail building in Shorewood, the latest in a series of similar North Shore area projects that have been done in recent years... Kohl's gets approval to expand Kohl's gets approval to expand. Kohl's Corp., headquartered in Menomonee Falls, will soon be able to offer its employees a wellness center and a child development center... City nearly ready to request proposals for fire station City nearly ready to request proposals for fire station. Committee plans to OK draft next week, send to council. Elected officials in two weeks will look at finalizing the request for proposal to rebuild a fire station in the Village area to replace the station's 80-year-old building at 1430 Underwood Ave... Council creates TIF. Development proposal includes acquiring Budget Cinema property. The Greenfield Common Council passed a resolution creating a 47-acre tax-incremental financing district that would straddle parts of Highway 100 and enable the city to add a commercial development... Funds for Commerce Center site need Village Board approval Funds for Commerce Center site need Village Board approval. The Brown Deer Community Development Authority and Finance-Public Works Committee recommended a $3.35 million bond issue to finance work being done in tax-incremental financing district No. 2, the Bradley Road TIF district... Krill warns developer. Go public with land swap plan or it could kill the deal. Enough with the secrecy. Such was the admonition an alderman handed down this week to a developer who has been brokering a deal among the city, Milwaukee County and an unnamed business... Bayshore signs up more stores WEDNESDAY, March 14, 2007 - Three retailers will open locations at Bayshore Town Center in Glendale this spring. They are J. Crew, Payless Shoe Source and Stride-Rite. All three have other locations in the Milwaukee metropolitan area. After the openings in the spring, Bayshore's retail space will be at about 89% occupancy, manager Bud Schneider said. The center also is in the process of leasing office space and residential apartments. Condo-retail project proposed in Shorewood WEDNESDAY, March 14, 2007A local developer wants to build a condominium and retail building in Shorewood, the latest in a series of similar North Shore-area projects that have been done in recent years. Blair Williams has proposed a four-story building, with 20 to 25 condos and 5,000 square feet of street-level retail space.It would be built on a village-owned parcel in the 4500 block of N. Oakland Ave. that Williams' firm, Wired Development, is negotiating to buy. Economic Trends 2007 Video Conference (Video) Commercial Real Estate & Development Conference 2006 (Video) Development News for the week of 3/02/07 to 3/09/07 To continue receiving News&Notes,
please add our 'From' address (kenh@parktowne.com) to your address book. Dane County Resource Guide to Economic Development Dane County, in partnership with Madison Gas and Electric and Alliant Energy, today released the Dane County Resource Guide to Economic Development – a first-ever comprehensive guide for any business, person, group or community looking to thrive in the
growing economy… Weston Place woes: Frautschi condo project falls prey to soft market, high prices
FRI., MAR 9, 2007 - Karen Atz and Paul Pingrey are absolutely giddy about their condominium home at Weston Place overlooking the Hilldale shopping center. "Our windows face south and the sun just streams in all day," said Atz, 51, a harpist at
UW-Madison. Her husband is just as effusive. "I love the smaller environmental footprint," said Pingrey, 55, a DNR forester. "Here, you've got 120 residences on land that would have been taken up by six houses."… Convenient fit: Health club chain offers workouts 24/7
FRI., MAR 9, 2007 - When staffers head home for the night, Anytime Fitness doesn't close. The health club chain relies on an extensive security system to enable it to keep its facilities open 24/7 and draw in members to work out during non-staffed hours.
Those staff savings, along with small, no frills, fitness-focused facilities, help Anytime Fitness keep its rates well below those of the 24/7 fitness palaces… A Rise In Mortgage Rates A Risk To Housing Market Thursday, March 8, 2007 - The biggest risk to the Madison area's housing market would be a sharp rise in mortgage interest rates, UW-Madison real estate professor Stephen Malpezzi said Wednesday. Speaking to the Madison Downtown Rotary Club, he said a
rapid increase could happen if foreign investors pulled back. "China's central bank has $1.2 trillion in dollar reserves," he said. "What if they decide to convert some to euros?"… Editors Note: Seeing that China has a small $1.2 trillion US cash reserve -- might I suggest a road trip to see if they may be interested in investing in the Madison economy. Rafe call me! Willy co-op to seek OK for funding expansion
Members of the Willy Street Co-op will vote next month to OK funds for a second store. With a handful of Madison area locations in mind, the co-op's board and management will ask voting members to approve funds to expand the popular natural and organic
grocery to a second site. Members recently received information announcing the vote in a letter from the co-op's board of directors. “We're becoming a victim of our own success… Plans advance despite traffic issues
3/6/2007 T. Wall, Epic developments get compliments. Traffic congestion is a popular topic in Verona these days. Two weeks after the landmark County M discussion, it seemed to be about the only thing on the minds of people at Monday’s meeting of the Plan
Commission, which gave its blessings to two enormous projects that have been looming for some time. Discussion of Epic Systems’ second set of office buildings and T. Wall Properties’ general development plan for its west side shopping center – which together could be worth almost $300 million… This Shopper Just Wants One Banana Sunday, March 4, 2007 - Rest easy, Madison, the banana cops are on the case. You don't have to worry about being overcharged on an undersized banana in this town. Trader Joe's on Monroe Street had its "Welcome to the Banana Republic of Madison"
moment earlier this year when it was busted… Editors Note: Hey don’t pick on TJ’s they are upping the anti on price and quality in our fair city – and the co-op is growing as well -- I love this city now if we could get Jennifer Street Market to look at Verona… Council Oks Sun Prairie Development Wednesday, March 7, 2007 - The Sun Prairie City Council unanimously approved an application Tuesday to develop more than 100 acres, slated to become a "power center," said Zach Weber, council president. The
approval of the zoning, architectural and landscaping guidelines allows Prairie Development Ltd. to move forward with plans to develop about 107 acres at highways 151 and C, of which 890,000 square feet will be retail space. Wednesday, March 7, 2007 - The city of Monona took a step forward in redeveloping Monona's Garden Circle Apartments near Monona Drive on Tuesday night. The Monona Community Development Authority approved a call for proposals to create a mixed-use
redevelopment district, said Monona Mayor Robb Kahl. Under the city's plan, the 116-unit Garden Circle Apartments, which sit on about 4.5 acres off Owen Road west of Monona Drive, will be torn down this year and the land sold to a private developer… | |
