The Redevelopment Authority of the City of Milwaukee on Tuesday bought 84 acres in the former AO Smith/Tower Automotive manufacturing complex.
The redevelopment authority paid $3.5 million for the property.
The city is planning an estimated $34.5 million project to clean the environmental contamination from the site, demolish some of the buildings and build new infrastructure. The city’s long-term plan for the area calls for the vacant property to be redeveloped. Most of the land would become a business park, but some property would be used to develop retail and housing.
The city purchased the site from Milwaukee Industrial Trade Center LLC, West Milwaukee. The company bought the property in October 2006. Tower Automotive, which manufactured car parts, stopped its manufacturing at the property in 2005.