It's a buyer's market in real estate everywhere - - but UW-Milwaukee seems to be willing to toss in extra millions to buy a site on the County Grounds for its new engineering school, and I don't see others lining up as bidders.
Has UW-M estimated the added transportation and commuting-time expenses the Wauwatosa site will generate, as opposed to building downtown where there are transit connections and additional infrastructure?
The reason they are paying more is because they intend to develop more of the land than originally proposed. So in fact the County is charging more based on a predicted square feet developed. Yea anti-density land sale!
ReplyDeleteAdd to it that they intend to develop about 800,000 square feet. This could be done on Block 2 and 4 of the Park East without too much effort. AND I believe you could get the land for about $5 million! (look at the proposed price that the Palomar was going to pay for it)
We have a county board and a city university that is oddly anti-urban.
ReplyDeleteI suggested to my County Sup that if UWM and Michael Cudahy are hell-bent on locating in Tosa that they raise the price to a point where downtown would look like a better option...doesn't look like they raised the price enough.
ReplyDeleteAnd on a related note, UWM partnered with WDNR to present the Executive Summit on Sustainable Business...
It's worth twice the price to keep the development and jobs out of the city!?!?
ReplyDeleteHow come the anti-tax crowd is not screaming about the waste of possibly 5 million in taxpayers' money?
Oh yeah, they are also anti-urban.
How myopic can the Chancellor be? Please change and do what is best for the community!
The sad thing is for $5 million they could buy Park East Bock 2 and 4 and develop the intended 800k square feet.
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