Last updated on May 15th, 2019 at 04:55 pm
Brookfield-based developer Somerstone LLC is working on assembling about 30 acres of land east of I-94 in Oak Creek for a large commercial development.
In November, the company won approval to purchase the first 23 acres at 7869 S. 13th St. from a court-appointed receiver for $4.4 million.
Somerstone has since secured a 0.87-acre parcel adjacent to the site at 7725 S. 13th St.
The company is asking the city of Oak Creek to rezone both parcels to highway business district in advance of pursing a commercial planned use development that will also incorporate six more properties Somerstone is attempting to purchase, said Kari Papelbon, city planner.
Those properties, located at 7705, 7751, 7765, 7781, 7811 and 7831 S. 13th St., are all single-family homes, with the exception of 7705, which is a vacant lot, Papelbon said.
Representatives from Somerstone could not immediately be reached for comment.
The city of Oak Creek has high expectations for the area north of Drexel Avenue, between I-94 and south 13th Street.
Construction is currently underway on a 295,000-square-foot Ikea store that that anchor a large mixed-use development across I-94 from the site, on land west of the freeway owned by Northwestern Mutual Life Insurance Co. The Ikea store is expected to open in summer of 2018.
The city plan commission will consider Somerstone’s rezone request Tuesday.
Papelbon said she believes Somerstone is close to purchasing two of the properties along 13th Street, but she doesn’t know the status of the others.
The developer has had preliminary meetings with the city on its future development.
“We’ve heard their vision, but it is still a very basic concept,” Papelbon said.
Mid-America Real Estate Group is the leasing broker for the project. According to a flier for the site, there will be 100,000 square feet of retail space and five outlot parcels available in spring of 2018.
Representatives from Mid-America could not immediately be reached for comment.