Pewaukee-based Neumann Cos. is planning a single family home subdivision with about 90 homes in West Bend. The project would develop approximately 34 acres at the northeast corner of South 18th Avenue and County Highway NN, which was previously slated for office and other commercial use. Neumann has not yet submitted detailed plans for the
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An example of a Harbor Homes build. Image from Harbor Homes[/caption]
Neumann Cos. intends to buy the land from Menomonee Falls-based Continental Properties, which once planned to develop the site as part of its West Bend Corporate Center.
"Current market conditions within West Bend, Washington County, and the larger marketplace have found a decrease in the need for business park land for office buildings, research facilities and similar," West Bend city staff said in a memo.
Neumann Cos. is requesting city support for the project in the form of tax incremental financing, which could enable the company to receive a percentage of future property taxes the development generates in exchange for fronting the cost of installing infrastructure on the site, though that plan has not yet been approved.
Those infrastructure improvements could spur future development in that corner of the city, including commercial uses, city staff said.
"I think it's a win-win," Lindgren recently told the West Bend Plan Commission. "It unlocks some additional business space ... and it provides much-needed housing for residents."
Its expected that the project will still require multiple other municipal approvals, which could take months, city staff said.