Northwestern Mutual Reportedly Swaps Oak Creek Land
Financial firm gets 50 acres near the planned Drexel Interchange.
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The exchanging of lands in Oak Creek continues.
Northwestern Mutual will get about 50 acres of land near the future Drexel Interchange as part of a land swap with the Milwaukee County Parks Department, according to a Milwaukee Business Journal report.
The newspaper reported the company has no specific plans yet for the vacant property, but quoted a spokesman as saying the goal is to "facilitate high-quality development."
The new Northwestern Mutual land is north of Drexel adjacent to Falk Park, while the parks department receives 75 acres for new park land south of Drexel along I-94.
Local officials expect the area to greatly increase in value with the reconstruction of Drexel Avenue and the Drexel Interchange. Construction of the new interchange is expected to begin in early May.
It's the second major land swap in Oak Creek that has moved forward in recent weeks. The Oak Creek Plan Commission on Tuesday will discuss a proposal in which the school district would own the Civic Center site, the city a seven-acre parcel on the former Delphi site, and Wispark 50 acres near the corner of Howell and Oakwood.
Mike in OC
4:09 pm on Friday, March 23, 2012
why would NM give up 75 acres for 50 acres in basically the same area? any why would Milw Cty give up land adjacent to an exisiting park?
Mark Schaaf
4:29 pm on Friday, March 23, 2012
My understanding of it is the land that NM gave up is part of an environmental corridor that county parks wanted to preserve. And I also think the 50 acres NM received is easier to develop on, or at least more "usable" from their perspective.
Mike in OC
5:52 pm on Friday, March 23, 2012
@Mark.... thanks for the info, makes sense then.....
BringBackOakCreek09
8:37 pm on Friday, March 23, 2012
This is a joke, they have been trying to sell everyone on the idea that kohls could still come to oak creek and they just gave away the land that it could have resided on.. Nothing like oak creek politics. I guess they have some other site in mind like always but forget to tell the people.
Mike in OC
9:41 pm on Friday, March 23, 2012
OC would be a prime location for Kohl's but I think they probably want too much.... bird in a hand is better than two in the bush.
Concerned
1:22 pm on Saturday, March 24, 2012
Could it be the 75 acres is swamp land?????
The real OC
6:53 pm on Saturday, March 24, 2012
I think this is a good move for everyone involved. Land facing the freeway, adjacent to the new Drexel ramp is prime land for a corporate office park, not a park. It won't be Kohl's, but it's attractive land at the gateway of the metro area, and could add a lot to our tax base.
commuter
5:10 pm on Friday, May 4, 2012
Let us hope they do not raise any more taxes and the extra revenue is NOT invested in getting more Police cars and officers by justifying more traffic, to give more tickets to innocent people like WI state police does. Traffic tickets with speed limits low instead of 70 mph on highways, to use more fuel, are also a type of tax by this state.