Governor Doyle Announces $100,000 Brownfield Grant for Shorewood Development
MADISON, WI – August 21, 2009 – (RealEstateRama) — Governor Jim Doyle today announced that Exchequer LLC will receive a $100,000 Blight Elimination and Brownfield Redevelopment (BEBR) grant from the Department of Commerce (Commerce) to help redevelop an unoccupied and underutilized property in the Village of Shorewood, Milwaukee County.
“Brownfield grants help renew damaged or vacant land and provide communities with opportunities for additional reinvestment,” Governor Doyle said. “I’m pleased that we could help Exchequer LLC improve the local supply of rental units and retail space on the site of a former gas station.”
“We are extremely pleased to receive this grant as it allows us to redevelop this property in a way that is both environmentally sound and consistent with our comprehensive plan,” said Village Manager Chris Swarta. “We are appreciative of the Department of Commerce’s commitment to brownfield revitalization in awarding this grant.”
Exchequer LLC, with the assistance of Wired Properties, plans to construct a 26-unit apartment building, located at 4514 North Oakland Avenue in Shorewood, at the site of a former Mobil gas station. The redevelopment will also include 11,000 square feet of first floor retail space. Wired Properties will use the BEBR funds to address environmentally sensitive deconstruction of the building and soil contamination on the site. The total project cost is $7.5 million. Construction is expected to be completed by September, 2010.
Commerce’s 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, Commerce, at 608/267-8926.
Tony Hozeny, Department of Commerce, 608-267-9661
