A 270-acre parcel in the Village of Pleasant Prairie has been acquired by
Arbor Estates Group LLC for the development of a large-scale residential community.
The project, known as
Highland Estates, is one of the largest active housing developments in Wisconsin and is set to bring 705 new housing units to the area upon full build-out, according to a Wednesday announcement.
The development site, located off Highway 165, roughly four miles east of I-94 and two miles north of the Wisconsin-Illinois border, was acquired for about $12.2 million, state records show.
Highland Estates will offer a range of housing types, including four styles of single-family homes, duplexes, townhomes and condominiums. Prices will start at $550,000 for entry-level units, with mid-level single-family homes priced between $600,000 and $750,000. Estate homes will start at $850,000.
Construction has already begun on the first phase of the project, which includes 108 single-family lots. Nearly half of these lots are either under contract or reserved, "underscoring the community’s strong market appeal," the announcement said.
The developer said it was responding to "explosive" economic growth in the area, fueled by employers like Eli Lilly, Amazon, Uline and Haribo.
"With this growth has come an urgent need for new housing supply," the announcement said. "Highland Estates and its diverse product mix reflects a bold, 'outside-of-the box', future-facing approach and solution to the region’s housing shortage and home affordability challenges for middle-class families. A great deal of attention was also given to creating a diverse housing community that would appeal to a broad segment of buyers encompassing a variety of socioeconomic and demographic segments of the population."
The project is being led by
Sanjay Kuttemperoor, who has an established history of development in Pleasant Prairie. Previous projects by the developer include the 420-acre Prairie Ridge and Meadowdale Estates developments. Those two developments account for 15% of the village's tax base, the announcement said. At full build-out, Highland Estates is projected to add another $500 million to the village’s tax base.
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Highland Estates map[/caption]
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