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Home > BizTimes Daily > Archives > July 7, 2009
State brownfield grant will help fund UWM's new dorm
Published July 7, 2009 - BizTimes Daily
Gov. Jim Doyle today announced that the University of Wisconsin-Milwaukee Real Estate Foundation Inc. will receive an $800,000 Blight Elimination and Brownfield Redevelopment (BEBR) grant from the Department of Commerce (Commerce) to help redevelop an unoccupied and underutilized property.
The foundation plans to construct a 700-bed dormitory in Milwaukee at 1436 E. North Ave. The BEBR funds will be used to reimburse remediation expenditures that will be incurred at the redevelopment project. The new facility will require an investment of $50 million, and more than $900,000 will be spent on remediating the site.
"This is an extremely important project for UW-Milwaukee and for the City of Milwaukee," said Phil Aiello, UWM Real Estate Foundation board member. "We are very pleased and grateful that the Department of Commerce is able to provide us with this level of assistance. It is a critical component of the project financing."
"Brownfield grants help renew damaged or vacant land and provide communities with opportunities for additional reinvestment," Doyle said. "I'm pleased that we could help the UWM Real Estate Foundation Inc. increase the number of dormitory rooms available to UW-Milwaukee students."
The BEBR Program provides grant funds to municipalities, local development corporations and the private sector to support assessment, remediation and return of contaminated lands to productive use. Brownfields are abandoned, idle, or underused industrial or commercial properties where redevelopment is hindered by real or perceived contamination. For more information about the BEBR Program, contact Al Rabin at (608) 267-8926.
