Milwaukee County has announced it plans to work with Wauwatosa-based Wangard Partners Inc. on the sale and $52 million development of a 2.1-acre parcel at 320 E. Ogden Ave. in Milwaukee’s Park East corridor. The proposed sale price is $2.5 million.
The land, known as Park East Block 22, is bordered by Ogden, Milwaukee and Water streets and Broadway. It was previously a parking lot beneath the Park East freeway before the spur was demolished about 12 years ago. Milwaukee County has posted a notice of intent to award the option to purchase and development agreement for the block to Wangard. The County posted an RFP for the site in July.
Wangard has planned a seven-story, $52 million mixed-use development for the site, which is expected to include 250 apartments—20 of which will be affordable housing—along with 70,000 square feet of retail space and a parking garage.
According to the plans it submitted to the county, Wangard expects the project would support 200 construction jobs and create 100 retail jobs and three residential jobs.
The development will also include a pocket park at the intersection of Water, Lyon and Milwaukee streets and a common green for residents on the rooftop.
Now that Wangard’s proposal has been approved, negotiations will begin among the developer and the County to enter into an option to purchase and define the terms of the future development agreement.
