WE ARE STILL RAISING FUNDS!
**UPDATE : We need more than our initial goal! Any dollar raised beyond the first goal helps us reduce our loan of $150,000- and we really need to do that. And, any funds beyond that (let's be crazy optimists! Why not?) would go to actually equip the kitchen! So - let's blow right past our goal with this final momentum!
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The Historic Walter Schmidt Tavern was built in 1893 and is located at 1848 W. Fond du Lac Ave. in Milwaukee’s Lindsay Heights
neighborhood. Wally and
Belle Schmidt ran the joint from 1935 to 1968. The tavern
was famous for its steak sandwiches and fish fries. It was also a favorite hangout spot for Milwaukee's politicians and ballplayers alike - famous Braves baseball player Warren Spahn held his son's birthday parties here (For more read about it in the newpaper story posted under the Gallery tab). In 1968, the McCarthy family leased the tavern and renamed it Max & Mildred’s (Later M & M Lounge). The lounge closed in 2010 and has been
vacant since.
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Much of the tavern’s original historic features are still in place, including a patterned hex-tile floor, finished wood molding and millwork, the historic bar, wrought ironwork, and embossed glass in the tavern’s entry door. Exterior features include a terra cotta roof, leaded glass windows, and decorative Mission Revival style piers.
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Juli Kaufmann (www.fixdevelopment.com) and Jeremy Davis have joined as partners to reclaim the building for a new sit-down restaurant on the first floor and offices on the second floor. Juli has developed lots of local real estate recognized for its social and environmental impact. She has also co-founded a pioneering crowdfundng vehicle called Fund Milwaukee where regular Milwaukeeans invest in local businesses and real estate. Jeremy is a Lindsay Heights resident and works for Walnut Way Conservation Corp (www.walnutway.org), bringing extensive experience in community development both locally and globally.
Duh. This is an abandoned, foreclosed building that has suffered fire damage and vandalism. It's located in Milwaukee's lowest income neighborhood. Overcoming these challenges will make success so much sweeter.
We are bringing back the Wally Schmidt Tavern so that it can catalyze economic investment in the neighborhood, support three new small businesses, create local jobs, and make positive change.
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In the Lindsay Heights neighborhood, systematic disinvestment has created a downward economic spiral - leaving a neighborhood that traditional investors and financial instutions now ignore. Where homes and businesses once created a vibrant community, foreclosures have now reached a crisis level and more than half of commercial properties currently stand vacant.
While these statistics evidence complex challenges, there is also tremendous potential. Many residents, businesses and partners are now successfully working together to begin transforming the community.
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Mentorship: An experienced developer (Juli) partners with a local resident (Jeremy) to enable skill transfer and capacity building through hands-on learning embedded right in the neighborhood.
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Community-identified
economic development needs: The Lindsay Heights neighborhood residents have identified this building and the proposed uses as high priorities to have catalytic impact on the neighborhood.
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Direct investment by community residents, and
sustained community ownership: Local residents will participate as investors using a crowdfunding ownership model and local businesses are sought as tenants to ensure local wealth-building, local job creation, and local economic impact.
If you'd like this model explained in more detail, just ask us because we'd love to tell you. This is our secret sauce!
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So check out our perks to the right. Every dollar raised will go toward renovating the building into something special. Minimally, we need $31,000 to fill a gap in our construction budget. Any dollar raised beyond our goal would help us reduce our loan of $150,000- and we really need to do that. And, any funds beyond that (let's be crazy optimists! Why not?) would go to actually equip the kitchen! And then you can come visit!
Well, the obvious impact will be a super cool restored building that is home to a fabulous restaurant where new memories can be made. But, its about a lot more than that.
The
historic Wally Schmidt Tavern has been identified as an ideal
project that fits the goals of the neighborhood with a high probability of
success and an ability to have significant economic impact on Lindsay
Heights because it will:
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Locate on Fond Du Lac Avenue, a key commercial corridor near the critical intersection at North Avenue;
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Eliminate blight by redeveloping a
vacant and foreclosed commercial property;
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Be developed and owned by partners
willing to serve as active citizens in the local business community;
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Enable local wealth building through
local ownership as well as local hiring practices;
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Attract occupants that are entrepreneurs
and locally-owned micro-businesses committed to social, environmental and
economic returns (a triple bottom line);
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Create new jobs;
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Add tax-paying commercial uses and
contribute property tax value to the business improvement district; and,
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Provide healthy products and services accessible
to the local community that add to the local quality of life.
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Even if you, personally, can't donate...we are sure you know someone who can. Won't you please share this with your social media world? Link to us on Facebook or Twitter. Become an advocate for our work, if you aren't already. You'll be amazed at what's possible when people put their minds to something.
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