The City of Oak Creek will receive a $1 million grant from the
state’s Idle Industrial Sites Redevelopment Program, an
initiative that helps spur the redevelopment of abandoned
properties throughout Wisconsin.
awarded by the Wisconsin Economic Development Corporation, will
be used to help fund a 550-space parking structure that will
adjoin a new medical facility in Drexel Town Square, a mixed-use
development now under construction.
development will include a primary and specialty health care
center planned by Froedtert Health, which will become part of
Froedtert & the Medical College of Wisconsin health network.
construction of the parking structure was critical to
Froedtert’s decision to locate in the city.
fall, Drexel Town Square is an 85-acre downtown center located
on site of the former Delphi Corp. plant.
development will include a new City hall and library, a Sheraton
Four Points hotel, luxury apartments, and retail and service
establishments including restaurants, speciality shops, and a
Meijer grocery store.
The City of
Oak Creek has committed $5 million toward the coat of the $20.5
million parking structure, and developer HAS Commercial will
provide an additional $4.5 million. The city sought funding from
the Wisconsin Economic Development Corporation to fill the
remaining funding gap.
go the four-story parking structure is expected to begin this