Developer shifts plan from apartments to homes in Menomonee Falls

HSI Properties proposing development on 35-acre site

Brookfield-based developer HSI Properties is bringing forward a new proposal to develop 35 acres of land on the southern end of Menomonee Falls along the village’s border with Brookfield.

HSI originally planned to build about 200 apartments at the northeast corner of Pilgrim and Lisbon roads, but was turned down last year by village officials. The new proposal, which will be reviewed by the plan commission June 7, is for 82 single-family homes.

“Both projects are good uses, this is just a different business model,” said Ryan Schultz, founder of HSI Properties.

HSI is working with Waukesha-based Westridge Builders, Inc. If everything is approved, Schultz is hoping to begin work on the project by the end of the year and have homes available for sale by early summer 2017.

The site was occupied by the Victory Drive-In Theater from 1950 until 1986. The land and the two adjacent parcels were purchased by the Brookfield Assembly of God Church in 1988. The land has been vacant since the theater was closed.

“We are confident in the market,” Schultz said. “It’s a mile or so west of Highway 41/45 and adjacent to some very successful development in Brookfield. This is a great location for us.”

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