A land swap agreement between Northwestern Mutual and Milwaukee County became final last week, paving the way for an expansion of Falk Park.
Under the agreement, the county gets 75 acres, much of it south of Drexel Avenue and east of 27th Street, while Northwestern Mutual gets 50 acres on the west side of I-94 near the future Drexel Interchange.
The Milwaukee County Parks Department wanted the 75 acres for , 2013 W. Rawson Ave., and to preserve some of the last remaining wetlands in the county.
Officials said in a report to council members the "aesthetic value of the area will be enhanced tremendously" because of the expansion.
Northwestern Mutual, meanwhile, got land that can be more easily developed, although the company
"It's really a great piece of property. Freeway exposure, right off the interchange," City Attorney Larry Haskin said. "Everything Northwestern Mutual does is first-class, so I think we can expect at some point in the future there will be a quality development there."
Meanwhile, a between the city, school district and Wispark is expected to become final by Aug. 30.
When that's done:
- The city will have seven acres at the Delphi site, 7929 S. Howell Ave., on which to build a library and city hall;
- Wispark, the development arm of We Energies, will have 50 acres on Oakwood Road to develop a business park;
- The Oak Creek-Franklin School District will have two pieces of property: 2200 W. Drexel Ave. for a future elementary school and 12 acres at the corner of Puetz and Howell avenues for an expansion of .