An affiliate of Chicago-based developer HSA Commercial Real Estate is looking to redevelop about 10.4 acres northeast of Appleton Avenue and 124th Street in Menomonee Falls.
The development site, which rests on the border of the Milwaukee and Waukesha counties, could be developed for residential or industrial uses "in the near future," according to documents filed with the Wisconsin Department of Natural Resources. The application didn't provide further details of the development plans.
The property owner on the application is JES Good Falls LLC, which lists HSA Commercial's Chicago headquarters as its address.
A representative of HSA Commercial did not immediately respond to a request for comment.
The DNR application identifies wetlands on the project site and requests that they be exempted from typical wetland protections. This would facilitate development at the site.
Matt Carran, Menomonee Falls director of community development, said the village has received "several inquiries" regarding the site from brokers, but had not received any applications for development.
The land is located within an existing tax incremental financing district, said village manager Mark Fitzgerald. He added he was not aware of any plans for the HSA Commercial-owned site. Likewise, village leaders have not discussed this particular TIF district since they agreed to provide incentives to the Milwaukee Tool project in the nearby Woodland Prime business park.
This part of town, roughly around the intersection of Appleton Avenue and Good Hope Road, has had the attention of businesses and the real estate community of late. Milwaukee Tool is building a new mixed-use campus and Leonardo DRS Inc. is relocating from Milwaukee in the Woodland Prime business park north of Good Hope. The nearby North Hills Health Center southwest of Appleton and Good Hope was also acquired by California investors recently for $59.25 million.
The village is also encouraging mixed-use development on roughly 10 acres southeast of Appleton and Good Hope. The site now contains vacant car dealership and a multi-tenant retail center.