A major hotel and retail development could be coming to Cudahy.
Check out the Milwaukee Journal Sentinel story here on the project, which could be coming south of Layton Avenue along the Lake Parkway and Pennsylvania Avenue. From it:
Local development firm Cobalt Partners LLC was to present information about the project during a closed session of the Cudahy Community Development Authority’s Tuesday night board meeting. State law allows government agencies to conduct closed sessions to discuss real estate negotiations, but any action must be taken in open session.
Details about the proposed development are expected to be publicly disclosed during a Plan Commission meeting in October, said Brian Biernat, city economic development director.
The closed session at the authority’s meeting was to provide some sense of direction for a possible revision of the city’s development agreement with Cobalt, he said.
That revised agreement, which would eventually need Common Council approval, would likely propose additional city spending on the project beyond what had initially been planned, Biernat said.
The city’s development agreement with Cobalt calls for spending $3 million to help finance a development that would be valued at $18 million, Biernat said.
Cobalt, led by Scott Yauck, now is planning a larger project that would be valued at $42 million, Biernat said.
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