Wauwatosa-based Matter Development is proposing a 153-unit senior living facility as the next phase of the 26-acre OneNorth development in Bayside. Led by Milwaukee’s Cobalt Partners and La Macchia Holdings, OneNorth is envisioned as a mixed-use development centered around health and wellness located at the northwest corner of West Brown Deer and North Port Washington
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Image from Cobalt Partners[/caption]
The development will be managed by Matter affiliate, Koru Health.
The overall OneNorth development is slated to cost a total of nearly $200 million, according to Scott Yauck, president and CEO of Cobalt, with up to five other buildings on the site. Matter's proposal is estimated to cost $40 million.
"We are thrilled to have achieved this level of development with many more exciting announcements around our holistic wellness theme to follow for OneNorth,” Yauck said.
This announcement comes on the heels of Matter’s purchase of Lakewood Memory Care & Assisted Living in Brookfield for $13 million, located about five miles from The Westerly Pewaukee, a new senior living development by Matter and Koru that is set to open in Spring 2025.
The Bayside project architect is Galbraith Carnahan Architects, the civil engineer is Pinnacle Engineering and interiors are designed by O+O Studio. The project will need to receive approval from the Village of Bayside before proceeding.