Tag: 30th Street Industrial Corridor

Revitalizing 30th Street corridor neighborhoods

Sean Ryan, for the Milwaukee Business Journal on August 19:

The Midwest Energy Research Consortium is negotiating to lease three floors of the former Eaton Corp. research building in Milwaukee to create an incubator for start-up energy, power and controls companies.

Also this week, homeowners facing foreclosure within a mile of that research building could get support from a $3.6 million new program proposed by the Northwest Side Community Development Corp. Both projects are among the ongoing effort to bring employers and jobs back to the 30th Street Industrial Corridor and improve the surrounding neighborhoods.

30th Street corridor to get new business incubator, housing support

Restoring neighborhoods to bring in jobs

Don Walker, for the Milwaukee Journal Sentinel on July 11, 2014:

In the 30th St. Corridor, where housing and unemployment are major challenges, there is a chicken-or-egg problem.

“You need new industry brought in, but industry says the neighborhood is not stabilized,” Perlstein said. “So you need to invest in the neighborhood to stabilize it.”

That’s where the Northwest Side Community Development Corporation entered the picture. Primarily an economic development group, Northwest Side Community Development Corp. is entering the housing business by rehabbing eight homes in the 30th St. Corridor with $2 million from WHEDA and $2 million from PNC Bank.

“We have eight under contract and we hope to do 18 more,” said Howard Snyder, the organization’s executive director.

“The idea was to have a strategy to address the foreclosure crisis,” Winston said. “We wanted a program that was more entrepreneurial, and Howard represented that.”

Two years later — no clear verdict on Transform Milwaukee

An unprecedented foreclosure crisis

Don Walker for the Milwaukee Journal Sentinel on April 23, 2013:

WHEDA is working with the Northwest Side Community Development Corp. WHEDA has given the organization $2.5 million to help people whose homes are worth less than what they owe. The money will be used for research, to support homeowners in pre-foreclosure and to help homeowners rehab their homes.

Winston said that if the neighborhoods improve, it will “make it more attractive for companies to come in.”

Howard Snyder, executive director of the Northwest Side Community Development Corp., said the money will be directed to three specific neighborhoods near the north side’s 30th St. Corridor.

Snyder said he hopes to be able to target a total of 90 homes in the three neighborhoods.

WHEDA chief: city’s foreclosure problem is unprecedented