The City of West Allis and Wangard Partners Inc. received the Real Estate Redevelopment and Reuse Award at the 2nd annual Community and Economic Development Awards banquet, which took place on September 14, 2016, at The Edgewater in Madison, Wis.
The award recognizes innovative real estate redevelopment and reuse efforts that demonstrate measurable and quantitative impact on employment and tax base. Wangard Partners captured market demand for flex industrial space by redeveloping vacant former Yellow Freight Truck terminal sites at 11525 and 11406 W. Roger St. in West Allis. The project was one of the first in the nation to pair U.S. EPA Brownfield Revolving Loan funds with New Market Tax Credits. The redevelopment is projected to create 209 full-time jobs and stimulate $83 million of economic impact in the region.
“Wangard Partners recognized the redevelopment opportunity for this site several years ago and worked diligently with the City of West Allis to bring it to fruition,” says Wangard Partners President Wayne Wiertzema. “The development had to overcome environmental contamination challenges from past uses as well as abandonment and removal of an old railroad spur. We collaborated with the City of West Allis and various governmental agencies on the clean-up and redevelopment plan for the site. The end result is a successful development with two fully leased, modern industrial buildings totaling 132,000 square feet that both Wangard Partners and the City can be proud of well into the future.”
“West Allis is very excited about the Wangard development on 116th and Rogers,” states Mayor Dan Devine. “It is a great example of the city’s mission to eliminate outdated, blighted property and bring in new tax base and jobs through high-quality development.”
The Wisconsin Economic Development Association (WEDA) and its partner organizations developed the Community and Economic Development Awards program to recognize best practices and economic development-focused groups that are making their community or region a better place to live, work and play.
“WEDA is excited that our program is able to celebrate the dedicated efforts of local, county, regional, state and private organizations in advancing our state’s economy,” says WEDA Executive Director Brian Doudna.
Seven awards were given in six categories: Business Retention and Expansion; Economic Driver (Large and Small); Human Capital; Real Estate Development and Reuse; Economic Development Initiative; and Public-Private Partnership.
Partnering with WEDA to implement the awards program are the Wisconsin League of Municipalities, Wisconsin Counties Association and the Wisconsin Economic Development Corporation.
The individual awards were sponsored by: Alliant Energy, Bachmann Construction, Findorff, Green Bay Packers, RDC National, Wisconsin Bank and Trust, Wisconsin Public Service and Xcel Energy.
View videos of this and other 2016 WEDA Community and Economic Development Award winners here.
To learn more about WEDA, who published this announcement originally please visit their website here.