MILWAUKEE (CBS 58) — The City of Milwaukee is receiving $250,000 in private donations to support the redevelopment of 51st & Stack Park in the city's 11th Aldermanic District.

Alderman Peter Burgelis and Mayor Cavalier Johnson joined neighborhood residents and local business leaders Thursday to announce the contributions.

El Rey is donating $100,000, while Global Power Components is contributing $150,000 toward the project.

"This is what it looks like when Milwaukee businesses invest directly in the neighborhoods that help make them successful," Burgelis said. "A quarter-million-dollar investment will help us take an aging neighborhood park and create something that families can be proud of for another generation. I am incredibly grateful to El Rey and Global Power Components for stepping up in such a big way for the neighborhood."

Nelson Lang of El Rey said the company's contribution reflects its longstanding connection to Milwaukee families and neighborhoods.

"Milwaukee's neighborhoods and families have supported El Rey for generations, and we believe strongly in giving back to the community that has given so much to us," Lang said. "We're proud to invest $100,000 in a place where children and families come together, play, and build memories for years to come."

Mike Watkinson of Global Power Components said the company's $150,000 contribution is an investment in both the neighborhood and the people who live there.

"Global Power Components is proud to call Milwaukee home, and we believe strong businesses and strong neighborhoods go hand in hand," Watkinson said. "This $150,000 investment is about helping create a safe, welcoming, and lasting community space for the families who live and work here."

Milwaukee City Parks is in the early stages of redeveloping 51st & Stack Park as part of a community-led effort to create a space that better reflects the identity and needs of the White Manor neighborhood.

City officials said the area has been shaped by generations of immigrant families and evolving cultural traditions.

The park is one of the older sites in the Milwaukee City Parks system, and its playground has served neighborhood families for more than 20 years. Officials said the equipment and other amenities have aged considerably.

The city said the redevelopment will provide an opportunity to work with residents to reimagine the park and create a modern gathering place for future generations.