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Restoration, environmental cleanup and other preliminary work is underway at the former Pabst Brewery complex, the $205 million project now known as The Brewery. Ceremonies on January 16, 2007 kicked off the development that is spearheaded by Joseph Zilber and Towne Realty. Mr. Zilber envisions The Brewery as a vibrant and multifaceted neighborhood that includes residential, offices and commercial uses.
"The Common Council was instrumental in helping the private sector redevelop the Pabst complex that will bring new life to land largely vacant since 1996," said Ald. Bauman. A $29 million tax incremental financing plan approved by aldermen last December will help pay for demolition, environmental cleanup and construction of new streets, sewers and other public improvements, and $1 million was set aside for a job training effort.
"Tax incremental financing is an important tool that has been used for a number of development projects that meet high-priority community needs," said Ald. Bauman, including construction of housing to replace the former Pfister & Vogel tannery and development of Manpower's new headquarters. Property taxes paid by a development pay off the city's debt and interest charges. Once the debt is repaid, the property taxes go into the general fund of the city and other local governments.
So far, Madison-based Gorman & Co. has said it plans to construct 92 to 100 loft-style apartments within the former Pabst keg house. Other possible uses at the former brewery include a corporate training site operated by Johnson Controls Inc. and a brew pub to be built by local investor Jim Haertel, who owns the former Pabst offices and visitors center. The Brewery redevelopment will be done in phases over several years.
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