Whether you’ve walked through The Grand Avenue, taken a tour of the Harley Davidson Museum or driven past the Library Hill apartments, you are bearing witness to projects that have come to fruition through the hard work of the Milwaukee Development Corporation (MDC). MDC has transformed Milwaukee’s landscape for over 50 years through catalytic real estate projects that foster a vibrant, inclusive, growing and sustainable community. Today, this not-for-profit civic developer is the operating entity for the Milwaukee 7 Regional Economic Development Partnership and a proud affiliate of the Metropolitan Milwaukee Association of Commerce (MMAC).
Over five decades of growth
In 1974, 46 leading Milwaukee businesses joined forces to support the revitalization of downtown Milwaukee; the beginning of what was initially dubbed the Milwaukee Redevelopment Corporation (MRC). MRC began by stabilizing the retail district west of the Milwaukee River. Hyatt Regency, Henry Reuss Federal Plaza and The Grand Avenue are evidence of this $150 million venture.
In 2004, MRC changed to its current name, the Milwaukee Development Corporation, announced its affiliation with MMAC and expanded its geographic mission to include the greater Milwaukee community. This was also the year Patrick O’Brien began his role as MDC president.
“MDC supports projects that would not otherwise get off the ground. I enjoy collaborating with an experienced board of directors, who are united by the shared vision of driving positive change in our community,” said O’Brien.
In 2013, MDC formed the Milwaukee Urban Strategic Investment Corporation (MUSIC) upon acquiring additional capital through a residential project that could be reinvested into the community. MUSIC empowers communities to thrive by investing in real estate and other mission related projects that address the roots of urban decline.
Today, MDC/MUSIC focuses the majority of its efforts on low-income housing in disadvantaged communities throughout the city of Milwaukee, while also considering place-based development opportunities across the M7 region.
Notable projects
Library Hill
In 1997, MDC partnered with Mandel Group to redevelop a blighted block of West Wisconsin Avenue into the first downtown workforce housing project (144 units/6,000 square feet of retail). This unique partnership resulted in the MDC and 18 of its member companies providing $1 million in deposits and $17 million in corporate guaranties. In 2014 and 2020 MDC refinanced the Library Hill project, resulting in $9 million of additional funding for other community projects.
BMO Harris Bradley Center
MUSIC provided $1.35 million in financing to the BMO Harris Bradley Center to purchase an adjoining property. This parcel was a key piece in Fiserv Arena’s development plans. The acquisition saved the Bucks organization and taxpayers approximately $9 million and kept the land out of the hands of speculators.
2711
Today, MDC/MUSIC is leading a community project to redevelop the long vacant 2711 W Wells St., the former County Administration buildings and before that Doctors Hospital, into 124 units of low-income senior apartments. The corporation is leading and coordinating the use of low-income federal and state housing and historic tax credits, along with additional grants and financing to help stabilize and revitalize the key 27th Street corridor on the city’s near west side.
“MDC looks forward to continuing its role as the community’s business-led developer, creating spaces where all Milwaukee residents can thrive,” said O’Brien.
