As first reported by BizTimes in December, Oak Creek officials and private developers unveiled Tuesday night more details about their plan to build a new downtown that will be anchored by a new Meijer store.
The sprawling, 85-acre Drexel Town Square project will be developed at the vacant site of the former Delphi plant.
The endeavor will be a “hybrid” mixed-use project that will bring $150 million to $160 million in development over the next five years, creating more than 4,000 jobs.
The Oak Creek project has attracted an all-star lineup of several of the Milwaukee area’s premier commercial real estate developers, including WisPark, WiRED Properties, Barrett Visionary Development and Zilber Ltd.
“It is rare that a community the age of Oak Creek can reinvent itself,” said Blair Williams, president at WiRed Properties, who will develop the “main street” at the site that will include a new city hall and library. “This is a story that you’ll be able to tell for generations.”
Developers said the site will be a “coffee to cocktails” destination that will be “walkable and sustainable” and will include high-end restaurants, a brewery pub, a fitness center, medical offices, high-end apartments and more.
For more, read the BizTimes Real Estate Weekly.