New York-based industrial real estate company Ashley Capital plans to develop a $440 million, 10-building industrial park at the former site of South Hills Country Club in Caledonia.
The Village Board tonight will review a proposal to create a tax incremental financing district for the project. In April, the village’s Plan Commission approved rezoning and creation of a planned unit overlay district for the project.
South Hills Country Club opened in 1927 and closed in September of 2023. The 223-acre site is located southeast of I-94 and Golf Road. The property is owned by Hintz Real Estate Development Company, which plans to sell it to Ashley Capital.
The development, to be called the South Hills Commerce Center, would include 10 industrial buildings, totaling 3.8 million square feet of space and ranging in size from 218,400 square feet to 554,000 square feet, according to plans reviewed by the Plan Commission.
Ashley Capital owns more than 100 properties totaling more than 30 million square feet, throughout the country. Its portfolio includes two sites in Racine County: the Yorkville Business Center, consisting of three buildings and 714,000 square feet; and the 136-acre Enterprise Business Park, located in Mount Pleasant and Sturtevant.
