Nearly a million dollars in federal matching grants will help spur redevelopment activity at Century City Business Park , the former home of manufacturers Tower Automotive and A.O. Smith.
The Milwaukee Common Council today signed off on the $999,650 Financial Assistance Award from the U.S. Department of Commerce Economic Development Administration, which was awarded jointly to the city and the Redevelopment Authority of the City of Milwaukee (RACM).
The grant and matching funds will pay for $1,999,300 of infrastructure development at the Century City Business Park, including a greenway, entrance road, gateway destination marker and public right-of-way to promote marketing and land sales to prospective companies for job creation.
“I’m grateful that the EDA recognizes the hard work that has gone into this redevelopment effort, and the value of this site to the City of Milwaukee,” said Alderman Willie C. Wade, an RACM commissioner.
“But thanks are also due to RACM, the Department of City Development, my colleagues on the Common Council and all the community members who have offered valuable input to this project.”
RACM obtained the Century City site in 2009, and driven by a $35 million city redevelopment plan, has conducted work including demolition, environmental remediation, asbestos removal and public improvements to make the area more attractive to developers.
City officials foresee the site hosting businesses with an estimated 900 employees on its 74 developable acres, including entry-level and high-skill jobs.