Recently getting over a “big hurdle” in the project’s financing, construction of the long-planned Iron District minor league soccer stadium in downtown Milwaukee could begin this summer, according to its developer.
Kenosha-based Bear Development sold the 7-acre Iron District site, at 803 W. Michigan St., to an affiliate of Milwaukee Development Corp. (MDC), a nonprofit subsidiary of the Milwaukee Metropolitan Association of Commerce that promotes local development projects, for $9.3 million, according to state property records posted Monday.
The sale is tied to a $9.3 million grant that Bear Development received in 2023 for the project from the state of Wisconsin. The grant was provided through federal American Rescue Plan Act money distributed to Wisconsin, which needs to be granted to a nonprofit partner.
MDC plans to own the property long term and lease it to the Iron District development team, according to Pat O’Brien, president of MDC.
“(MDC is) a great conduit to bring the state funds into the deal, so we think it’s a win-win and will help push things forward,” Bear Development chief executive officer S.R. Mills said. “This was a big hurdle to get over.”
Originally proposed in May 2022, Mills said he is anticipating the firm will begin construction on the $75 million, 8,000-seat soccer stadium this summer, with the project being finished in time for the team to begin play in the USL Championship league in 2026.
The Iron District development plans have included a hotel with approximately 140 rooms to be built next to the stadium, but Mills said Monday that construction on the hotel will likely not begin at the same time as the stadium. A flag has not been chosen yet for the hotel, he said.
Milwaukee Pro Soccer, owned by Grafton-based Kacmarcik Enterprises, is working with Bear Development to create the Iron District.
The first part of the Iron District development, which is located northeast of the Marquette Interchange, was Michigan Street Commons, an apartment building that opened in 2024.
