Located on the intersection of Blue Mound Road and Barker Road, the $125 million mixed-use development totals approximately 245,000 square foot of space of the overall 470,000 square-foot outdoor space, in which 33,000 square feet grocery store for Sendik’s Food Market, 140,000 square foot Von Maur department store, 230,000 square-foot of upscaled retail space, 155 apartments, and additional various commercial tenants. Demolition on site has started and major buildings have been torn down for the construction start scheduled to begin in the fall of 2016 delayed from the previous schedule set for the end of 2015.
Developer Marcus Corp. has also announced back in December of other potential tenant that could include Lowlands Group restaurants chain, Colectivo Coffee shops, Arhaus Furniture, Chico’s, and White House Black Market. The 19-acre site is an ideal location for the Brookfield and Waukesha County community in southeastern Wisconsin, with easy access and plenty of parking.
Valued at $176 million the Corner development is estimated to generate a $ 37.5 million repaid property tax within the next 20 years. The Brookfield Town Board has approved borrowing $35 million to help finance the Corner project development. Most of these funds generated for the project are to be used for the below-grade parking structure. Under the provisions of the project finance agreement, Town Administrator Rick Czopp has given Marcus a one-year extension to secure lease for at least 65% rentable retail space to validate additional finances.