Let’s make the assumption – and I think it’s a pretty safe one – that sooner rather than later we are going to get a new Downtown arena on land just north of the present BMO Harris Bradley Center.

Let’s also make the assumption that we are going to end up – someday – with $500 million of investment in bars, restaurants, apartments, condos, theaters, grocery stores and other stuff surrounding the new arena.

You can say you are going to Water Street, or to the Third Ward, or to Walker’s Point and everyone knows where you are headed. What we need to do is come up with some kind of great name for the new entertainment/residence district that’s going to spring up.

There are a couple of ways to approach this. We can come up with something totally new and base it on geography or attractions. We can also pay a nod to Milwaukee’s history and develop a name like that.

Here’s seven potential names:

1. Third Street – Third street has a strong sense of historical significance in Milwaukee. It is more than a street, it's a landmark area. It was the first commerce hub in the city with many buildings constructed before 1900. If your co-workers asked where you were going to go Saturday night and you said "Third Street," they would know where you were going to party.

2. The Highland – Highland Boulevard is a street that runs east and west and will be in the middle of the proposed development area. The Highland captures a lot of perceptions that would make the name attractive. Too much to drink and people say you are "really high." If you are watching a Bucks game on TV and they win you can give everyone in the place a "high five."

3. The Riverwalk – This isn’t exactly new. There is already a street sign marking "Riverwalk Way." Plus, a lot of places that have development along a river have used some form of the word "river" to designate an adjacent entertainment area. Austin, Baltimore and Cincinnati come to mind quickly. I don’t think The Riverwalk is horrible, but I think we can do better.

4. The National – National Hardware is a Milwaukee institution. For three generations the store has provided those hard to find pieces that have kept hundreds of Milwaukee homes functioning. You need a piece for plumbing that was put in your house in 1921, National has it. Plus they’ll explain to you how to do almost everything.

5. The Haymarket – Back in 1880 Milwaukee had a lot of public squares dotting the city. One was Haymarket Square at 5th and McKinley. Calling our new area The Haymarket both pays homage to our history and sounds pretty cool. "Let’s meet in the Haymarket at 5 tonight." See what I mean?

6. The Bradley Center – Think about it. The original Bradley Center, donated by Jane Pettit, will be long gone, but we can still honor the important and generous family by calling the new area the Bradley Center. It could be changed to Bradley Town if we are afraid that people might get confused.

7. The North End – There are already apartments being built along at the intersection of Water and Pleasant Streets, called the North End. But the name could easily be appropriated for the new area. It accurately describes the geography of the place and also sounds like a real cool destination.

The conversation about the name has thus begun. Next week we’ll look at what kind of things should be developed in the area. And for those regular readers who think I’ll suggest a strip club as one of those things, you got it.