Milwaukee County Exec Chris Abele and Bucks President Peter Feigin today announced the “approval of a sale agreement for almost 10 acres in the Park East corridor” for $1. The Bucks plan to build a $400M development on the parcel adjacent to their proposed arena site that would include “new housing, offices, parking, a grocery store and a team practice facility” ( BIZJOURNALS.com, 9/9 ).
The land was appraised at $8.8M, but Abele’s office said that $8.3M “worth of needed demolition and infrastructure work” was not factored into that valuation ( AP, 9/9 ).
