The Oak Creek Common Council met in closed session Tuesday to discuss a possible tax incremental financing (TIF) agreement between the city and HSA Commercial for the Drexel Town Square project.
“They are coming to be involved with Drexel Town Square,” said City Administrator Gerald Peterson. “We’re not at liberty to talk about that at this point.”
Drexel Town Square is the mixed-use development under construction at the 85-acre former Delphi plant site southwest of Howell and Drexel avenues in Oak Creek. The project will create a downtown for Oak Creek and will include a new City Hall and library, a town square, a mixed-use Main Street, apartments, restaurants, a Four Points by Sheraton hotel and a big box Meijer store.
Wispark LLC is leading a development team for the project that also includes Zilber Ltd., Barrett Visionary Development, WiRED Properties, Mid-America Real Estate and Rinka Chung Architecture. HSA Commercial could be added to that group. Wispark President Jerry Franke declined to comment on HSA Commercial’s potential role with the Drexel Town Square project.
HSA Commercial Real Estate is a diversified, national full-service commercial real estate firm that provides development, management, leasing and client services in retail, office, health care, industrial and mixed-use properties. The firm’s Milwaukee area work includes the Mayfair Collection project that it is developing in stages in Wauwatosa.
With plans established for most of the Drexel Town Square site, HSA could be involved in yet to be announced plans for the northwest corner of the site. Sources say a health care development is planned for that corner.