Tuesday, July 25, 2006

What is good economic development in Milwaukee?

Before I even start this post, I will start by saying that I am not qualified for this discussion. I don't know the area I'm going to discuss well enough, so if you dismiss me completely out of hand, you may be doing so with good reason.

Good. Now that I have that out of the way, go read Casper's post.

Based on what I've read, I'm leaning strongly towards Capser's position. That puts me in opposition to both X-Off and Sykes, an odd position for me. My concern revolves completely around the housing issue. While it is possible that Ruvin plan could create a trendy new housing area in Milwaukee, it is still not a possibility that I have an strong belief in. Milwaukee's condo boom defies demographics. Yes, a good portion of it is second homes for some wealthy individuals. Milwaukee only has so much ability to absorb that extra demand, though. The city's population is in decline while wealthier suburbs grow. I'm not sure that there is demand enough to meet the potential Park East growth in condos. Yes, that bigger Ruvin investment is attractive, but what does it do to the larger Milwaukee real estate market? I could care less about the gas station. In fact, I think the Rana Enterprises proposal shoots too low for the area. The Ruvin condos makes me nervous, though.

Now feel free to eviscerate me in the comments. I'll be the first to admit that I understand the dynamics of Madison much better than those of Milwaukee. If you try, though, you had better be able to convince me otherwise.

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