Northwestern Mutual Life Insurance Co. is considering a possible mixed-use development on W. Drexel Avenue, west of Interstate 94 in Oak Creek, although no formal plans have been filed with the city.
In November, the city revised its long-term comprehensive plan so 60 of the 128 acres Northwestern Mutual owns in Oak Creek could be developed, said Doug Seymour, community development director.
Oak Creek Mayor Steve Scaffidi said Northwestern Mutual is actively trying to find partners for the property and he expects an announcement this spring.
He said the development could include retail, office and residential.
“To Northwestern Mutual’s credit, they realize the Drexel interchange has created a very valuable piece of land,” Scaffidi said. “They make smart decisions. I have no qualms about them and know whatever decisions they make will be good for the city.”
Betsy Hoylman, spokesperson for Northwestern Mutual, said that at this time the company does not have any specific plans to develop the land, but Northwestern Mutual is interested in identifying the best use for the property.
“Because our suburban campus straddles the borders of Franklin and Oak Creek, we support economic development in both locations,” Hoylman said.
The 60 acres that have been changed in the city’s land use plan are at 1830 W. Drexel Avenue. Before a development could be approved, zoning for the property would still need to be changed, Seymour said.
“Nothing is imminent at this time,” Seymour said.
