MADISON, WI – July 7, 2009 – (RealEstateRama) — Governor Jim Doyle today announced that the UWM 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 in 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 the UWM Real Estate Foundation, Inc. increase the number of dormitory rooms available to UW-Milwaukee students.”
UWM Real Estate Foundation, Inc. plans to construct a 700-bed dormitory at 1436 East North Avenue in Milwaukee. 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 over $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.”
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.
Contact:
Tony Hozeny, Department of Commerce, 608-267-9661
