Tom Daykin

Milwaukee Journal Sentinel

With Fiserv Forum and a neighboring entertainment center now both open, the Milwaukee Bucks are refining their plans for the next development wave centered on the team's downtown arena.

Those long-term conceptual plans envision hotels, office buildings, apartments and a cinema eventually being developed on the site of the former Bradley Center, and on two vacant blocks west of North Old World Third Street and north of West Juneau Avenue.

None of those possible projects has yet landed developers, tenants or financing. And, the plans could change depending on the reactions they receive from the market.

But this new proposal provides a more detailed look at what could be coming.

And it follows a series of new nearby projects that include Fiserv Forum, its parking structure, the entertainment block, the Bucks training center, Froedtert & Medical College of Wisconsin McKinley Health Center and Five Fifty Ultra Lofts.

"The vision here is: How do we continue to build density and evolve the neighborhood?" said Bucks President Peter Feigin.

The idea is to "show the possibilities," he said.

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Head of the Herd Real Estate Development LLC, which is operated by the Bucks' main owners, has long planned additional development on the former Bradley Center site, as well as the vacant blocks in the former Park East strip between Juneau Avenue and McKinley Boulevard.

Head of the Herd took control of those properties through the 2015 agreement to provide $250 million in public financing for the $524 million arena.

These most recent, more detailed plans are now being used to market the project sites to potential developers and investors, Feigin said.

That timing is tied to the demolition of the Bradley Center, to be completed in June, as well as the availability of the two remaining Park East blocks, between Old World Third and Fifth streets, which have been used as construction staging areas for the arena and entertainment block.

The conceptual plans were created after discussions with Eppstein Uhen Architects Inc., which designed them, as well as commercial real estate brokers and developers, Feigin said.

Some projects could begin construction within the next two to four years, he said.

But there are no guarantees.

"This is still a risky venture," Feigin said.

In the meantime, some of those sites will be available to use in connection with the Democratic National Convention, which is coming to the Fiserv Forum in July 2020, he said.

The vacant lots could be used for staging areas, as well as hospitality sites, he said.

Here's a block-by-block breakdown of what Head of the Herd envisions. Each block would include parking structures.

• The former Bradley Center block, between State Street, Phillips Avenue and new portions of Highland Avenue and Fifth Street that will be constructed.

A 10-story, 226-room hotel with a banquet center would anchor this block, which would include a two-level cinema, around 28,000 square feet of retail/restaurant space and 33 apartments on three floors.

• The former Bradley Center parking structure block, just west of the former Bradley Center block.

This block would feature around 106,000 square feet of offices on five floors, 19,000 square feet of retail/restaurant space and 58 apartments on five floors.

• The Park East block bordered by Old World Third Street, Phillips Avenue, Juneau Avenue and McKinley Boulevard.

This site would be primarily for residential use, with 233 apartments on 15 floors. It also would have around 34,000 square feet of retail/restaurant space, including a grocery store.

• The Park East block just to the west of the apartments and grocery store site.

Office space would be this parcel's main use, with around 304,000 square feet on 15 floors planned — a site that Fiserv Inc. might consider for a new headquarters, according to real estate industry sources. The block also would have a seven-story, 200-room hotel and 14,000 square feet of retail/restaurant space.

RELATED:Fiserv put its name on the new Milwaukee Bucks arena. Will it also move its headquarters next door?

Tom Daykin can be emailed at tdaykin@jrn.com and followed on Instagram, Twitter and Facebook.