Council Will Debate New Plan To Sell Parking Structure
Alderman introduces proposal following construction stalling on neighboring tower.
Marcus Center parking structure replacement plan by Neutral. Rendering by MGA.
With construction stalled on a 31-story luxury apartment tower, the future of a neighboring, city-owned site could be headed in a different direction.
Alderman Robert Bauman introduced a resolution that directs the Department of City Development (DCD) to issue a new request for proposals for the Marcus Performing Arts Center parking structure, 1001 N. Water St.
Last summer, DCD selected Madison-based Neutral as the winner of a prior RFP for the city-owned, 2.45-acre site. Neutral proposed constructing a three-phase, $700 million development, with the final phase featuring the world’s tallest mass timber tower at 55 stories.
Bauman, in 2024, expressed skepticism of the phased nature of the plan. In June, he doubled down and indicated his support to see a new RFP issued, possibly breaking the full-block site into three parcels.
“People will kind of promise you anything upfront to get their hands on the land and then circumstances change, maybe beyond their control, and then we go to try to claw the land back and ‘oh sorry, we’re going to keep it,’” said Bauman in June. “So I’m very leery of phased deals.”
Circumstances have changed, at least for the time being.
Two weeks ago, Neutral was forced to pause construction on its first Milwaukee project, Neutral Edison. General contractor CD Smith walked off the job site. The 378-unit luxury apartment tower is to be built across the street from the parking structure on a privately-owned site addressed as 1005 N. Edison St.
Neutral, in an emailed statement, called it a “temporary pause” to address “cost pressures and optimize the project’s budget.” However, the pause follows a high-profile June groundbreaking and occurs at an unusual point in the construction cycle, after CD Smith had installed a tower crane and partially completed foundation work. The project is privately financed, but relies on leases of small, neighboring city-owned parcels.
Three firms bid on the Marcus Center site. The alderman said he would have expected national firms to bid on what he said was a “massive site” for downtown development.
The council never formally approved DCD’s decision to declare Neutral the RFP winner.
Bauman’s new proposal would give DCD 60 days to draft a new RFP and present it to the council for approval. He’ll have a substantial say in the council’s debate over imposing the requirement. Bauman chairs the Zoning, Neighborhoods & Development Committee and represents Downtown.
The zoning committee, which will first consider the new RFP request, next meets on Oct. 7.
Neutral Renderings
Parking Structure Photos
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