Looking to take a more active role in the redevelopment of an underutilized site, the Village of Brown Deer has acquired a vacant office building in a deed in lieu of condemnation transaction.
The village acquired the 5.3-acre property at 4000 W. Brown Deer Road last week for $1.9 million, state property records show.
The property has a three-story, 95,000-square-foot office building that was owned and occupied by
First Citizens Bank, but the company had not been using the space for several years, according to
Nate Piotrowski, community development director for the village.
The village then approached First Citizens Bank and offered to have the site appraised and to acquire the property in order to get the redevelopment process going, which First Citizens Bank was interested in, according to Piotrowski.
"We had a site that was lagging, and ownership hadn't expressed interest in redeveloping the property themselves," Piotrowski said. "Instead of waiting for the market, the village decided to take the lead in controlling its destiny. The deed in lieu of condemnation route is one of the options we could take."
In January the village issued a request for proposals (RFP) to redevelop the site. Piotrowski said the RFP did not require any specific use or density, but did outline a vision for the property, which sits at the high-traffic intersection of West Brown Deer and North Green Bay roads.
"We suggested a dense, mixed-use development that was urban in nature and could serve as somewhat of a gateway for the village, something with strong architecture," Piotrowski said. "We were hopeful to receive proposals with an entertainment or amusement component like restaurant space."
The village received three proposals of which it is currently evaluating two, according to Piotrowski. There is not a set date that a proposal will be selected and unveiled.
In the meantime, the village is bidding out the demolition of the existing office building, anticipating the site will be clear by September.
"We didn't want this property to fall into disrepair and be blighting on the area, so the village is being as actively involved in the property as possible," Piotrowski said.
Other redevelopment projects are in the works in the area. Just west of the site, Milwaukee-based development firm
F Street has
demolished two vacant office buildings and is replacing them with about 148 apartment units. Just north of the site, Nebraska-based development firm
Woodsonia Real Estate plans to
demolish a struggling retail center and replace it with a new building for a Target store and other retailers, and use the remaining cleared space for apartment units.
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