Urban planner Larry Witzling, professor emeritus at the University of Wisconsin - Milwaukee,
released a study in collaborate with Rethink 794 estimating that removal of the of I-794 through Downtown has the potential over 30 years to generate $475 million in property taxes, $3 billion in downtown disposable income, $60 million in city sales tax and the creation of 3,000+ new housing units.
Witzling estimates that the land can conservatively accommodate 3,000 new residential units along with amenities, public places and other attractions that will increase Milwaukee’s reputation as a next-generation, destination city. He bases his estimate on decades of slow-growth changes in downtown, including along the Park East corridor – a plan which he contributed to 20 years ago.
Moderate changes in infrastructure will be needed according to Witzling. “The area already includes a great infrastructure framework with a strong street grid,” he said. “Even with Clybourn Boulevard widened to four lanes, there would be plenty of room for housing and expanded public places to support existing and new uses. As with the Park East Freeway removal in 2002-2003, development would likely see some ebb and flow as local stakeholders and new investors engage the opportunities.”
“The key is to develop multiple options and a strong management process to ensure equity and broad stakeholder involvement over 30 years,” Witzling said. Stakeholders should come together to build a strategic development plan around common interests in the corridor, he said.
The study assumes building types, rents and prices will be mixed and would include the city’s initiative for 20% affordable housing included within the Downtown Plan 2040.