Proposed Sale of O’Donnell Parking Structure Will Benefit Entire Community
Milwaukee County Executive Chris Abele says he is excited about the opportunity of partnering with Northwestern Mutual in a potential sale of the O’Donnell Parking Garage.
MILWAUKEE – Milwaukee County Executive Chris Abele says he is excited about the opportunity of partnering with Northwestern Mutual in a potential sale of the O’Donnell Parking Garage. Staff from across the County has been working with Northwestern Mutual for more than a year on finding a deal that works for everyone.
Under the proposal, Northwestern Mutual will purchase O’Donnell Parking Garage for $12.7 million. The County will use the money to pay off existing debt on the facility and the remaining $5 million will be used to improve parks across the County. Northwestern Mutual has also agreed to immediately improve the aging parking structure and look at adding more green spaces, modernizing parking equipment, and adding zipcars and bike share options in the future.
Northwestern Mutual will also keep the parking garage open to the public seven days a week and O’Donnell Park remains a public park.
“It’s not often enough we get to announce such positive news. Not only will this sale allow us to continue to improve our beautiful parks, it’s also a great partnership with a company that has made a strong commitment to our community,” County Executive Abele said. “I look forward to addressing any questions from the community and finalizing a deal that benefits the community.”
The proposed sale would also return the parking garage to the public tax rolls, which means that not only the County but also other local taxing authorities including the City of Milwaukee, Milwaukee Public Schools and the Milwaukee Area Technical College would benefit over time from the increased tax base.
The County Board is expected to hold hearings on the plan this month.
NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. While it is believed to be reliable, Urban Milwaukee does not guarantee its accuracy or completeness.
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