Pabst Farms Development has offered not to enter into a purchase and sales agreement with Walmart for at least one year and will instead seek other retailers for the development located northeast of I-94 and Highway 67 in Oconomowoc, according to a statement today from Oconomowoc Mayor Jim Daley.
Last year Pabst Farms development announced plans for a 151,000-square-foot Walmart Supercenter store and a 136,000-square-foot Sam’s Club store in the Town Centre area of the development.
Several Oconomowoc residents objected to the Walmart plans. The original plans for the Pabst Farms project, approved by the city in 2008, were for an upscale retail development, but those plans have never come together.
In addition to seeking other retailers, Pabst Farms Development is seeking changes to its development site plans to help it attract other retailers.
“This newly requested Pabst Farms amended plan calls for additional acreage to be included in the Town Centre area, increased square footage for the prospective retail anchors, the removal of the monument wall located between the development and I-94 to be replaced with additional landscaping features, and storm water components be altered to better accommodate the development by replacing underground storage with surface ponds, Daley said.
“Negotiations have been on-going for over a year between myself and Pabst Farms” Daley said. “Pabst Farms has shown a recognition that a portion of Oconomowoc has been vocal in their concern over the direction the development has taken. Pabst Farms has indicated that they need the requested changes to their approved Town Centre plan in order to market their property to a wider range of end-users.
“As a result of continued discussions, Pabst (Farms) has offered not to enter into a purchase and sales agreement with Walmart as a tenant to the development for one year, and will re-assert their efforts towards other retailers for the Town Centre area, using their newly approved plan to work towards that goal,” Daley said. “In addition, if after this time period elapses there is a submission in the next three years from Walmart in the Town Centre, Pabst Farms will agree to allow the City’s Common Council to make a determination on whether or not we want those particular retailers in our community at that location and will promise not to pursue any legal retribution to the city for its decision if that determination should go against the developer. Our Council and Community will have a chance to make the decision on what should be developed without the cloud of legal action hanging over our heads.”
