ALDI Planned For Oak Creek Near Drexel Town Square: Report

OAK CREEK, WI — Word is that bargain grocery store chain ALDI is planning a new store on W. Drexel Ave. just north of Drexel Town Square in Oak Creek.

“We are currently exploring the possibility of opening a new location in Oak Creek,” said Atty McGrath, Oak Creek Division vice president for ALDI in a Milwaukee Biz Times article. “However, it is still too early in the process to confirm any other details at this time. We will be in touch as soon as information becomes available.”

According to reports, the 22,000 square-foot store would be located at the northeast corner of W. Drexel Ave. and S. 6th Street.

In an earlier Patch.com report, we reported that City officials are interested in developing two run-down areas of Oak Creek, and are considering setting up TID districts to help spur development.

The two areas in question are several parcels of land on the northeast corner of S. 6th St. and W. Drexel Ave. - near Drexel Town Square - and also two parcels of land on the northwest corner of W. Rawson Ave. and S. 6th St. That area has been revealed as the one that ALDI is considering for a new grocery store.

A TIF/TID district is a development tool cities can use to attract business and spur development. The way it works is that a district is created and a base value of that district is established by the city. The increased value of the property is still charged at the base rate, but the district uses the increased tax revenue to pay for the infrastructure projects.

This means tax fund recipients still receive the same amount of tax revenue before the district was created, but the increased tax revenue pays for the infrastructure costs over a 20-year period.

Image Via Oak Creek Patch.com