Last week, the Milwaukee Common Council approved property rezoning, site redevelopment guidelines, the creation of a Tax Incremental District, and the sale of 20 acres to Harley-Davidson, Inc. for the company’s planned $95 million museum.
The land to be purchased currently houses the Milwaukee Department of Public Works. The City of Milwaukee has committed to move the public works facility by February 28, 2006, and the museum is expected to be completed two years later. Harley-Davidson’s target is to open the museum to the public in 2008.
H-D officials say development will take place in three phases. Phase 1 will consist of 110,000 sq. ft. for the museum and related facilities, including a retail store, meeting rooms, banquet space and a restaurant, at an estimated cost of $60 million.
H-D envisions subsequent phases to include Harley-Davidson corporate archives, a restoration shop and additional exhibit space, all eventually offering a total of 230,000 sq. ft. at an approximate total investment of $95 million.
The Museum is estimated to draw 350,000 annual visitors. The Metropolitan Milwaukee Association of Commerce estimates the Museum will generate $78 million in annual spending and $12.3 million in annual state and local tax revenue.
Copyright 2004 Powersports Business