A 40-acre, mixed-use development south of I-894 and west of South 84th Street in Greenfield has gotten final clearance to move forward to begin construction in July.
The project, 84South, will include a 123,000-square-foot multi-tenant single-story retail building on the northeast corner of the site and a 143,000-square-foot multi-tenant, single-story retail building in the central portion of the site.
Together, the buildings will hold 11 tenants. So far, 10 of the 11 spaces are committed, said developer Scott Yauck, president and CEO of Cobalt Partners, who is leading the project.
The larger building will include a Steinhafels furniture store. The existing Steinhafles store at 8400 W. Layton Ave. will move into the new building and the existing store building will be demolished once the new store opens, likely in late 2017, said Greenfield Mayor Michael Neitzke.
“I’m very excited about what I’m hearing (about the project),” Neitzke said. “Like Drexel Town Square in Oak Creek and the Mayfair Collection in Wauwatosa, this will be a transformative development for our city.”
This week, the Greenfield Common Council approved overall master plans and site plans for the development, which is being done by Greenfield Development Partners Holding LLC. Rinka Chung Architecture is the design firm for the project.
Plans also include more than 250,000 square feet of retail shops and restaurants, as well as 350 market-rate apartments.
Yauck said he has gotten a lot of national retail interest, including tenants that would be new to the Milwaukee market and big-box retailers. A fitness facility could also be added as well as a hotel in 2018, if the market warrants it.
Neitzke said several prospective national retailers have been meeting with city officials, but he could not give further details. Yauck said tenants would be announced within the next 30 days.
“There is no shortage of folks who have expressed an interest in the site,” Neitzke said. “From what I can tell, they will have no difficulty leasing as quickly as they are building.”
Popular Chicago restaurant chain Portillo’s Hot Dogs LLC is planning to open at least two additional locations in Wisconsin in 2017, and has mentioned Greenfield as a possible location, which could be the 84 South project. Portillo’s is opening its first Wisconsin restaurant in Brookfield in July.
The 84South project will be similar to Yauck’s White Stone Station development in Menomonee Falls. Cobalt Partners is developing White Stone Station within the 65-acre former industrial area west of the interchange of US 41/45 and Pilgrim Road. Retail tenants for that development include Costco, Ulta Beauty, Sports Authority, Ross Dress for Less and Home Goods. The development also includes 320 market-rate apartments.
White Stone Station is still under construction. The mid-box retailers will be ready in June, Yauck said.
