Developers said the 8,000-seat-stadium would be the centerpiece of the new proposed entertainment district.
Developers said the 8,000-seat-stadium would be the centerpiece of the new proposed entertainment district.
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Developers said the 8,000-seat-stadium would be the centerpiece of the new proposed entertainment district.
Marquette University has sold 11 acres to developers who plan to turn the area into a new sports and entertainment district.
The plans were announced Friday morning.
The land is at North 6th and West Michigan streets and the Marquette Interchange.
Bear Development and Kacmarcik Enterprises plan to build a new stadium, which will be home to a professional soccer club.
There are also plans for a 3,500-person indoor concert venue operated by the Pabst Theater Group, a 140-room hotel, 99 residential housing units, retail and bars and restaurants.
The concert venue will host national touring acts 80-to-100 nights a year and more than 300 events a year in total, developers said.
Marquette said it considered other potential buyers for the land but said it was important that any development add value and economic growth to the community.
It purchased the land in 2014 and 2015.
Developers said the 8,000-seat-stadium would be the centerpiece of the new proposed district.
The field will feature a synthetic turf and will be used from March through November, hosting about 200 events.
They have plans for it to be home to the highest level of professional soccer in Wisconsin.
A professional soccer league affiliation will be announced soon, the developers said.
Kacmarcik Enterprises chairman and CEO Jim Kacmarcik is the lead owner of Forward Madison FC, Madison's USL League One franchise.
Marquette men's and women's soccer and men's and women's lacrosse teams will also play there.
They will continue to practice at the Valley Fields facility.
Marquette said the development will serve as a catalyst for the region and will play a pivotal role in linking downtown Milwaukee, the Menomonee Valley, the Near West Side neighborhood and Marquette University.
The sports and entertainment district was projected to create hundreds of new jobs and draw a million visitors annually, the school said.
The site is currently home to mostly vacant parcels and parking lots, including a former hotel that is vacant.
The Marquette Behavior Analysis Program Building, at 525 N. 6th St., and the other buildings were all included in the sale.
The developers will demolish the vacant hotel as part of the project.
Tenants in the office building have been notified of the sale and will be relocating.
Marquette's Behavior Analysis Program will not be immediately affected.
The university is working with the faculty to identify a new location for the program.
"This new development reimagines and promises to bring new life into a highly visible strategic corridor, presenting an exceptional opportunity to connect the Marquette University campus and Westown neighborhood with the Downtown Milwaukee renaissance," President Michael Lovell said in a statement. "The economic revitalization and community pride this multi-purpose development will catalyze is something I am proud Marquette can help facilitate through the strategic sale of this important parcel of land. I look forward to cheering on our men's and women's lacrosse and soccer teams in their new competition venue."
"I would like to thank the leaders at Kacmarcik Enterprises and Bear Development for aligning with us on a development that supports Marquette's own strategic and campus master plans," Marquette executive vice president and chief operating officer Joel Pogodzinski said. "We are excited for the impact this project will have on Milwaukee, our nearby neighborhood and our campus community."
"Milwaukee is one of the great sports cities in the United States, and we are excited to bring professional outdoor soccer to the community," Kacmarcik said. "The beauty of soccer is that all across the world, communities rally behind their city's club to support the players, the team, and each other."
Marquette will have no financial or controlling interests in the new development.
The university will be a lessee in the athletic stadium.
All site preparation and remediation, including demolition of the vacant hotel and other buildings, will be handled by the developers.
The university said the sale and development align with the university's 'Beyond Boundaries' strategic plan themes of "Social Responsibility Through Community Engagement and Sustainability of Valuable Resources."
The financial terms of the deal were not disclosed.
"We are thrilled to work with the City of Milwaukee and other community partners to transform a long-dormant site into a vibrant sports and entertainment district, furthering opportunities to live, work and play downtown," Bear Development CEO S.R. Mills said.
"This amazing new venue is another rung on the Pabst Theater Group's 'artist and fan developmental ladder' and will help artists to choose Milwaukee as a city to not only launch their careers but support them as they continue to return and as they grow," Pabst Theater Group president and CEO Gary Witt said. "The location is a perfect fit for a concert venue. It has plenty of parking and easy access to trains, buses, and highways, and it's only a stone's throw from downtown. This is the right place for us to be, working alongside great partners like Kacmarcik Enterprises and Bear Development and getting to expand our venues' potential in the same space as an exciting new professional soccer stadium. As an almost 20-year-old independent Milwaukee business, we are honored to carry the torch for live performances in Milwaukee into the future, along with other independent local powerhouses like The Rave, The Cactus Club, and Shank Hall."
City officials may need to approve development plans.
The project is scheduled to break ground this fall.
The stadium and entertainment were scheduled to open in spring 2024.
No other details were immediately available.
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