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 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.