From the Milwaukee Journal Sentinel
By TOM DAYKIN
[email protected]A Lena's Food Market, with space for additional retail businesses, would make up a $10 million neighborhood shopping center planned for Milwaukee's central city, one of the project's partners said Monday.
Developers also plan to build 70 to 90 homes nearby in a $16.5 million residential development.
The 45,000-square-foot Lena's supermarket and 50,000 square feet of additional retail space would be built on 7.5 acres along the north side of W. North Ave., east of N. 25th St., said Mark Irgens of Irgens Development Partners. The vacant site is owned by the city Redevelopment Authority.
The Lena's store would replace a smaller Lena's market at 2322 W. Oak St., Irgens said. The project's additional space would be developed in phases as the developers secure leases with neighborhood-oriented retailers, he said.
The entire project would cost about $10 million to $12 million, Irgens said.
The Lena's store would be developed and owned by the Martin family, which operates four Lena's Food Markets on the city's north side.
The additional retail space would be developed and owned by the Martin family, Irgens Development Partners and Williams Development Corp., Irgens said.
Irgens Development and Williams Development created North Avenue Commerce Center, which has offices, a school and retail space in the 2500 and 2600 blocks of W. North Ave. The Lena's Food Market and additional retail businesses would be east of North Avenue Commerce Center.
Irgens said the developers are still assembling financing for the new retail center. The project's plans were disclosed when Rep. Gwen Moore's office issued a statement about a $700,000 federal grant that would help finance the development.
That grant will be provided to Northwest Side Community Development Corp., a non-profit community development agency. That organization plans to lend the grant money to the project's developers.
Northwest Side CDC also will recruit and train unemployed and underemployed central city residents for jobs at Lena's and other retailers.
"This project promises to increase job opportunities available to central city residents, as the store and the retail center will provide for additional employers to move into the area," Moore said in a statement.
Derrick Martin of Lena's couldn't be reached for comment.
Irgens Development, Williams Development and Legacy Redevelopment Corp. also plan to develop 70 to 90 new homes in an area bordered by W. North Ave. and W. Brown, N. 20th and N. 24th streets.
Irgens said the retail center plans are separate from the housing development proposed by Irgens Development, Williams Development and Legacy Redevelopment. However, the housing project would create additional customers for neighborhood retailers, he said.
"Everything builds upon each other," Irgens said.
Under the housing proposal, the city would sell vacant lots for $2,000 each to a non-profit corporation made up of Legacy and its partners. They would then sell the lots to home builders for around $15,000 each to cover their development costs and fees.
The home builders would construct three- and four-bedroom houses that they would likely sell for about $150,000 each.
Also, the city would provide $3.25 million in financial assistance for the project. Most of those funds would pay for new streets, sidewalks, sewer lines and water lines to serve the housing development. The money will be repaid through the development's property taxes.
There are no other public subsidies connected to the housing development, which is driven by demand from families with children for new homes near downtown. The Common Council will review the housing proposal, including the planned city financial assistance, at its meeting today.
Link: JS Online:Developers plan $10 million retail center in central city.
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