Park East and the tales of vacant lots
Remember the Park East project? Remember the mountains of crushed steel and bent rebar stretching from 43 to the East Side? I certainly do. Not only was the demolished highway the easiest way to drive home, but I had the unfortunate displeasure of working at a store smack dab in the epicenter of construction. Suffice to say, raises were not in the budget that year.
Over the past few years, both the East Side and downtown have grown by leaps and bounds. Go to where Humboldt meets the river, and the area is almost unrecognizable. Meanwhile, the Park East area sits quietly, patiently waiting for its numerous vacant lots to be filled. A few businesses and condos have slowly moved in, but it’s still far from being the busy downtown hub we were promised so many years ago.
Apparently I am not the only one to wonder what became of the Park East project. Last month, the Common Council made a 5-0 vote that forced Mayor Tom Barrett’s Department of City Development to examine proposals for financial assistance. I wish that I could say I am surprised, but it looks as though the examinations have done little but bring the Park East project to yet another frustrating standstill.
Barrett and city officials have agreed to give $8.8 million to begin housing and retail development for the North End. This is in addition to the $17 million already spent preparing the area for development. The cost for developer Richard Curto’s planned project is estimated to be $175 million. Even the downscaled version of the project would cost $41 million. Instead of diving in, the city has chosen to test the waters with minor developments first. Part of the problem to consider here is whether or not minor developments will be able to turn the profit needed to represent the area’s potential.
The main issue concerning city officials is whether or not the Park East area can be financially self-sustaining. Developers maintain that the opening of new hotels, residences, and businesses will provide more than enough sales and property taxes to offset the original costs. Still, the question remains as to whether other businesses, including those of the Grand Avenue Mall, can withstand the competition.
The sad truth is, many downtown businesses are already struggling to stay alive. I have seen this same scenario a decade earlier in Green Bay, at the site of Port Plaza Mall. The city largely ignored proposals to renovate the area, only to be left with a veritable ghost town shortly thereafter. Accept for a few popular nightclubs the downtown district is nearly vacant, and all the businesses have moved across the river to Ashwaubenon.
Cities are dynamic places that change over time. Just because an area is currently active, does not mean that it will be a few years from now. We have to admit that the downtown area is in drastic need of assistance, especially with the more accessible Bayshore Towne Center only ten minutes away. Continuing the Park East project could be just the solution to draw people in and remake the area into a bustling center of consumer activity.
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