Broadway District’s Rail Yard: Wins prestigious real estate redevelopment and reuse award

The Rail Yard Innovation District which lies within the Broadway District, has won the Real Estate Redevelopment and Reuse award at the annual Community and Economic Development Awards (CEDA) ceremony, held September 11, 2019, at The Edgewater Hotel in Madison. The CEDA Awards program was established by the Wisconsin Economic Development Association (WEDA) to recognize businesses, projects and organizations that are making significant contributions to Wisconsin’s economy.
The Real Estate Redevelopment and Reuse award honors innovative real estate redevelopment or reuse projects that have had a positive impact on a community’s economy, including job growth and increased tax base.
The restoration of the historic Larsen Canning Co. warehouse in Green Bay has revitalized the city’s downtown Broadway District, attracting employers, investors and consumers. The redevelopment project transformed the Larsen warehouse property into the exciting Rail Yard Innovation District. The Rail Yard includes multiple tech-forward, mixed-use buildings, which are home to 26 thriving businesses, including a popular brewery. The $31 million project, which retained 190 jobs and created 100- new jobs, was financed with private investment secured by tax increment financing and state and federal tax credits.
“We are honored to be the recipient of the redevelopment award as presented by WEDA,” said Paul Belschner, President and CEO of Base Companies, LLC, which was instrumental in the development of the Rail Yard Innovation District. “It is exciting to see the continued development progress within downtown Green Bay’s urban core. We are just getting started!”
“The Rail Yard leverages what was once an underused asset located in the Broadway District and has turned it into a beacon of hope for what can happen to repurposed buildings when historical structures are preserved,” said Brian Johnson, executive director of On Broadway, Inc. “Redevelopment of this site took a strong vision and commitment to a challenging project, one that was not easy but the right thing to do. Generations of people will now be able to enjoy these facilities in remembrance of the many generations before them that occupied these symbolic structures.”