Pygmalion
20 May 2005, 04:45 PM
The article is not yet online and it may take until Monday until they put it on the website but the Milwaukee Business Journal is reporting that there is another investment group proposing to put a 22,000 seat SSS on land in downtown Milwaukee.
I'm assuming the article will appear here within the next several days and will post it when it comes up.
http://milwaukee.bizjournals.com/milwaukee/
The "Park-East" freeway spur which bordered the northern edge of Milwaukee's downtown was recently dismantled and the city and county are now soliciting proposals for development.
http://www.mkedcd.org/parkeast/index.html
According to the article an investment group called Pegasus ParkEast Partners LLC was formed in late 2004 to explore development on the ParkEast land. A separate company, Milwaukee Professional Soccer LLC was formed in April to negotiate with MLS about bringing a franchise to Milwaukee. According to Marty Greenberg who heads the Pegasus group, "MLS officials are open to discussing expansion in Milwaukee."
This is a different group than that headed by Tim Krause who took ownership of the Milwaukee Wave in 2000/2001 at the same time that he was trying to finance a stadium. That stadium would have been built right next to the Bradley Center (home of the Milwaukee Bucks) and ran into solid opposition from Bradley Center ownership.
As always its a question of financing and we will have to wait and see what they come up with.
The article provides the following background on Greenberg:
"In the past 30 years, Greenberg has become one of the nation's authorities on sports law and sports facility financing. The Milwaukee lawyer has written seven books on real estate finance, sports law and financing sports arenas and stadiums.
In addition to being managing partner in the Milwaukee law firm Greenberg & Hoeschen, he is the founder and former director of the National Sports Law Institute of the Marquette University Law School.
Greenberg is also managing partner of ScheerGame Sports Development LLC which has offices in Milwaukee and Jacksonville Beach, Fla. ScheerGame has developed more than 14 sports facilities in a dozen states. Greenberg's CollegeTown company is a subsidiary of Scheer Game and has several projects pending on college campuses."
The article also indicates interest from city and county officials. The Pegasus group plans to bid for 12 acres that will include the stadium in a mixed use development. "The Greenberg proposal for a downtown stadium and its surrounding commercial and residential developments would be owned and managed by a private developerand property management firm, not a tax-exempt organization."
I'm assuming the article will appear here within the next several days and will post it when it comes up.
http://milwaukee.bizjournals.com/milwaukee/
The "Park-East" freeway spur which bordered the northern edge of Milwaukee's downtown was recently dismantled and the city and county are now soliciting proposals for development.
http://www.mkedcd.org/parkeast/index.html
According to the article an investment group called Pegasus ParkEast Partners LLC was formed in late 2004 to explore development on the ParkEast land. A separate company, Milwaukee Professional Soccer LLC was formed in April to negotiate with MLS about bringing a franchise to Milwaukee. According to Marty Greenberg who heads the Pegasus group, "MLS officials are open to discussing expansion in Milwaukee."
This is a different group than that headed by Tim Krause who took ownership of the Milwaukee Wave in 2000/2001 at the same time that he was trying to finance a stadium. That stadium would have been built right next to the Bradley Center (home of the Milwaukee Bucks) and ran into solid opposition from Bradley Center ownership.
As always its a question of financing and we will have to wait and see what they come up with.
The article provides the following background on Greenberg:
"In the past 30 years, Greenberg has become one of the nation's authorities on sports law and sports facility financing. The Milwaukee lawyer has written seven books on real estate finance, sports law and financing sports arenas and stadiums.
In addition to being managing partner in the Milwaukee law firm Greenberg & Hoeschen, he is the founder and former director of the National Sports Law Institute of the Marquette University Law School.
Greenberg is also managing partner of ScheerGame Sports Development LLC which has offices in Milwaukee and Jacksonville Beach, Fla. ScheerGame has developed more than 14 sports facilities in a dozen states. Greenberg's CollegeTown company is a subsidiary of Scheer Game and has several projects pending on college campuses."
The article also indicates interest from city and county officials. The Pegasus group plans to bid for 12 acres that will include the stadium in a mixed use development. "The Greenberg proposal for a downtown stadium and its surrounding commercial and residential developments would be owned and managed by a private developerand property management firm, not a tax-exempt organization."