MILWAUKEE (AP) — Milwaukee leaders hope economic development will be spurred by a new commercial center built at the location of a bank that was burned down two years ago during unrest over the fatal police shooting of a black man.
Wisconsin Public Radio reports that the $4 million Sherman Phoenix is scheduled to open in November. More than 20 business owners will go into the space. The center will offer the small business owners resources and a support system.
Sherman Phoenix stands at the location of a former BMO Harris bank, which burned down amid protests against the shooting death of 23-year-old Sylville Smith.
Officials say the development symbolizes rising from the ashes and rebirth. It received $250,000 in state grants and $215,000 in city funding, as well as philanthropic donations, angel investors and local investors.
Information from: Wisconsin Public Radio, http://www.wpr.org