Milwaukee-based developer
Cobalt Partners on Thursday announced plans to acquire a 16-acre site in the Village of Brown Deer, along North Arbon Drive just south of Brown Deer Road, to build a $50 million youth sports-anchored development.
The proposed development centers around a sports and events complex that includes two hockey rinks; courts for basketball, volleyball, and futsal; a turf field; wellness-focused medical services; food and beverage offerings; and additional sports and fitness uses. The goal is to create a walkable district combining sports, recreation, hospitality, retail, and community gathering spaces, according to a Thursday press release.
“This project is about more than sports—we see it as a reliable catalyst to bring the community together around health, activity and entertainment, while also attracting regional tourism and supporting local business,” said Scott Yauck, president and CEO of Cobalt.
Cobalt has enlisted The Sports Facilities Companies to lead the complex’s programming, design, and financial modeling. The Florida-based firm specializes in high-performing sports and recreation venues.
The Brown Deer Village Board is scheduled to consider a letter of intent for the project at its July 21 meeting.
Under the letter of intent, Cobalt would handle the acquisition, planning, and development, while the Village of Brown Deer would support the project through a tax increment financing (TIF) district. The village also plans to conduct a market study, assist with infrastructure and zoning, and may consider using hotel room tax revenues to help make the project financially viable.
Yauck acknowledged the financial challenges typical of similar developments but expressed optimism about this site.
“Over the last several years, we’ve been approached to lead similar efforts, but have often struggled to bridge the financial gap,” he said. “This opportunity feels different. We have strong demand, a highly supportive and forward-thinking municipality, an easily accessible location central to the North Shore, a clear void in the market—and a growing list of stakeholders and prospective sponsors aligned with our vision.”
Village President Wanda Montgomery said the project could position Brown Deer as a leader in experience-based development.
“As communities across the country harness the power of youth sports and experience-driven design, Brown Deer is poised to become a regional leader in this next wave of dynamic placemaking,” Montgomery said. “Cobalt brings a strong track record of executing transformative public-private developments across Wisconsin and we look forward to working together on this exciting effort.”
Cobalt, known for its large-scale, mixed-use projects, is behind the 84South and Loomis Crossing developments in Greenfield, OneNorth in Bayside and Whitestone Station in Menomonee Falls. The firm also recently purchased a water park in Mequon to redevelop and is partnering with other local firms on apartment projects in Greenfield and Wauwatosa.
In the press release, Cobalt said this development will further the momentum of nearby developments in Brown Deer's commercial corridors, which include the redevelopment of an abandoned office building, a new mixed-use project anchored by Target and multiple apartment complexes.
