ROC Ventures of Franklin has been selected as a finalist for the Wisconsin Economic Development Association’s Public Private Partnership economic development award for its Ballpark Commons project.
The award is part of the Community and Economic Development Awards program established by WEDA to recognize businesses, projects and organizations that are making significant contributions to Wisconsin’s economy.
The Public Private Partnership award honors projects, programs or initiatives that have been successful due to exceptional collaboration between the public and private sectors.
The $255 million, 168-acre Ballpark Commons project is a sports-anchored, mixed-use development that includes a 4,000-seat baseball stadium, over 75,000 square feet of commercial and retail space, and a five-building, 265-unit luxury apartment complex. The development, which will also include a golf entertainment complex and several restaurants, will spark further economic growth in the city of Franklin, according to a news release from WEDA.
Ballpark Commons was made possible through a partnership between the city, ROC Ventures and other development stakeholders. The project, financed with private investment secured by tax increment financing, will create up to 200 full-time jobs, 450 seasonal jobs and 650 construction jobs, as well as increase the local tax base by over $170 million.
ROC Ventures is among 17 finalists selected for the 2019 CEDA Awards. There are two to three finalists in the following six award categories: Business Retention & Expansion; Economic Development Initiative; Economic Driver; Private-Public Partnership; Real Estate Redevelopment and Reuse; and Talent Development. The League of Wisconsin Municipalities, Wisconsin Counties Association and WEDC have partnered with WEDA to present the CEDA Awards program.
Finalists have been screened by an impartial panel of WEDA members and partners, and winners will be announced at a ceremony on Sept. 11, at The Edgewater Hotel in Madison. The event is open to the public. For more information on the CEDA Awards, visit weda.org/events/awards.