Hales Corners-based
Wimmer Communities is the latest firm planning to develop a vacant 34-acre property in New Berlin, planning hundreds of apartments and commercial space.
The development site, located southeast of West Greenfield Avenue and South Moorland Road,
was sold to Wimmer for $11 million in August after another local developer dropped its development plans for the site.
Wimmer plans 361 market-rate apartments and approximately 19,600 square feet of commercial space in a town center-style neighborhood, according to plans submitted to the City of New Berlin.
Wimmer is scheduled to present its concept for the site to the New Berlin Plan Commission on Oct. 7. The project would require city approvals including a land use change and a rezoning, according to a city documents.
Known as The Conservancy, Wimmer's project would be walkable and interwoven with nature trails, the proposal says. About two-thirds of the site would be set aside for woodlands, wetlands, ponds and green space.
Plans call for two buildings off of South Moorland Road that would each have 9,800 square feet of retail space on the ground floor with apartments above. A nearby clubhouse for residents would include an outdoor pool, pet spa and health club.
[caption id="attachment_598158" align="aligncenter" width="1024"]
Conceptual map from Wimmer Communities[/caption]
More apartments would be in a multistory building at the corner of Moorland Road and Greenfield Avenue and in four other buildings behind the retail area. There would also be eight four-plex units in the development.
The development would include a mix of one-, two- and three-bedroom apartment units, plans show, and nearly 700 parking spaces are proposed, including a mix of surface parking and garage spaces.
Pending city approval, site work for the project could begin next August and, under that timeline, the first apartment units could open in the fall of 2027, with the entire project slated for completion by the end of 2029, according to the proposal.
The development is estimated to bring the property's value to more than $63 million at full buildout.
Wimmer hopes to secure construction financing for 70% of the project's total cost and cover the remaining 30% with its own equity, the company's proposal shows.
Last year, Milwaukee-based development firmÂ
Mandel Group proposed a mixed-use project on the site, consisting of 218 apartment units, 150 senior living units and four commercial buildings totaling 22,000 square feet of space. Mandel’s plan was to develop the multifamily component and work with other developers on the commercial and senior living components of the project, but the firm was unable to reach feasible agreements with other developers and dropped its plans for the site.
