The Village of Thiensville selected Mequon-based
Heimat Capital to lead the development of
The Corner, a mixed-use redevelopment project at the northwest corner of Main Street and Freistadt Road, located within the
Thiensville Crossing tax incremental financing district.
The Corner, one of three major parts of the Thiensville Crossing redevelopment district, will include market-rate, multi-family housing with first floor commercial space.
“We’re honored to have been chosen for this transformative development,” said
Joseph Lak, principal at Heimat Capital. “We look forward to working hand in hand with the Village of Thiensville to deepen our roots in the community and improve the built environment for generations to come.”
Heimat Capital is a subsidiary of
The Heimat Group, a boutique real estate and capital services firm.
The Village and Heimat Capital have entered into a memorandum of understanding (MOU) outlining their commitment to work toward finalizing a purchase and development agreement. During the MOU period, the village and Heimat Capital will evaluate potential project concepts, including site plans, architectural designs, unit counts, and commercial square
footage.
“This partnership is a defining moment in our efforts to elevate Thiensville’s downtown,” said Village President John Rosing. “We’re excited to team up with Heimat Capital, whose vision aligns perfectly with our goals for a vibrant, thriving community. This project is a testament to our commitment to growth and prosperity for all our residents and businesses.”
So far, the village has spent $3.8 million of a planned $9.9 million public investment in the Thiensville Crossing TIF, according to Andy LaFond, director of community services for the Village of Thiensville. The $3.8 million expenditures have covered property acquisition, remediation, demolition, and the installation of municipal water mains.
The Corner is one of three phases for the Thiensville Crossing redevelopment district. The other two redevelopment phases, Hawthorne Square and West Freistadt, will be located on the southwest corner of Main Street and Freistadt Road and just west of the intersection on Freistadt Road, respectively.
The village's vision for Hawthorne Square includes infill housing, night life, boutique businesses and a central courtyard. The vision for the West Freistadt area includes walk-up townhomes or apartments.
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