Jerry Franke, who helped lead development of the Lakeview Corporate Park decades ago, has been named the first executive director of the Kenosha Innovation Neighborhood.
The announcement comes on the heels of the recent groundbreaking of Lakeview Technology Academy as the first development on the site of the former Chrysler plant.
The KIN Board announced Franke’s appointment. Kenosha Innovation Neighborhood is the city’s ambitious plan to transform the former Chrysler factory site into an innovation district at property east of 30th Avenue between 52nd and 60th streets.
Franke previously served as a city planner, city development director and city manager for several Midwest municipalities and has 50 years of commercial real estate experience. He also started Franke Development Advisors LLC, which provides consulting services to municipalities and developers in the commercial real estate development field.
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His resume includes planning work on more than 4,000 acres of business parks, developing work of more than 12 million square feet of industrial, distribution and office buildings and experience as the primary developer of mixed-use projects, such as the KIN.
Franke said he looks forward to working with KIN and the community to begin the development process for the large-scale project. He compared it to his work at Lakeview Corporate Park, which was a “cabbage patch, a cornfield” that has since grown into an industrial hub.
“The project is both a significant challenge and an outstanding opportunity. This site was part of Kenosha’s industrial legacy and through proper development can be a key part of its future,” Franke said. “Undertaking projects like KIN requires a team effort consisting of elected officials, business leaders, development professionals and engaged residents.”
Franke’s responsibilities include attracting tenants and businesses to the KIN, establishing long-term financial budgets, soliciting financial support from individuals and organizations and obtaining grants.
“Franke will play a key role in advancing the KIN mission through strategic leadership, economic development, organizational management, community engagement and resource development,” the board stated in a press release.
Franke was initially approached about the position in July. He began work earlier this month and is currently in the “information gathering phase,” he said. It entails about 30 to 45 days of going through legal documents, plans and communications, and meeting with consultants.
Franke said he’ll work with the KIN board and other consultants to refine their conceptual plan and develop operating budgets for the Kenosha Innovation Center.
“We’ll need to understand what it’s going to cost to operate the building and other aspects of owning real estate through the development of a pro forma so we can tell prospective tenants what the rent would be to be in that place,” he said.
Any specifics on what the developments will look like are still down the line, Franke said, as he works with the board and other involved parties, calling it a “very community-involved project.”
“We really need to have proper input form the board, from neighbors, from city officials, from others who are keenly interested in this project,” Franke said.
Tim Mahone, president of the Kenosha Innovation Neighborhood Board, highlighted Franke’s work at Lakeview Corporate Park. It is a “full-circle moment” for Franke, Mahone said, as the first development in the innovation neighborhood is the Lakeview Technology Academy, originally located in the Lakeview Corporate Park.
“We are thrilled to welcome Jerry to our team,” said Mahone. “His impressive experience in the commercial real estate industry combined with his passion for community makes him a great fit for the KIN.”
Mark Fedyk, vice president of the Kenosha Innovation Neighborhood Board, said it is an honor to welcome Franke to the organization.
“Jerry brings decades of real estate and economic development experience, and a tremendous network of prospective tenants, investors, advisors and supporters to the project, Fedyk said. “More importantly, his personal passion and commitment to this transformative project is unwavering. I am genuinely looking forward to working with Jerry in his new role.”
Franke for his part gave his commitment to the “long term project.”
“One hundred and seven acres is an awfully large parcel to develop,” Franke said. “We really need to work hard. I’m prepared to spend whatever time is needed, that a 72-year-old body will allow, for the next year, two years, whatever it takes.”
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