Greenfield Could See New Live-Work-Play Complex

Greenfield WI

09 November, 2020

9:08 PM

Description

GREENFIELD, WI—The application before the Plan Commission Tuesday seeks to rezone 26 parcels, of which two (2) are owned by the City and one (1) includes the 16-acre park-n-ride parcel to Planned Unit Development (PUD) District (PUD #2). This will be a mixed-use PUD, according to Village records. The properties are on the east side of the 4000-4400 blocks of W. Loomis Road and on the north side of the 4000-4400 blocks of W. Layton Avenue. Cobalt Partners, LLC has the 23 parcels under contract to purchase in the vicinity of W.Loomis Rd., the I-894 interchange, and W. Layton Ave. The City has a signedMemorandum of Understanding with WisDOT to control the 16-acre park-n-ride parcel,and Cobalt is under contract with the City to purchase said land, according to Village documents. In total, Cobalt intends to purchase, rezone, and develop approximately 38 acres of land in the vicinity of W. Loomis Rd., the I-894 interchange, and W. Layton Ave. Cobalt's vision for the 38-acre redevelopment includes an array of potential uses:1. Commercial/retail/office/medical (up to 400,000 sq. ft. north of the I-894interchange in the vicinity of the park-n-ride parcel, five (5) stories in height).2. Recreational/entertainment (up to 300,000 sq. ft. north of the I-894 interchangein the vicinity of the park-n-ride parcel, four (4) stories in height).3. Hospitality (north or south of the I-894 interchange, up to 130 rooms, five (5)stories in height).4. Multi-family Residential (north or south of the I-894 interchange, up to 600 units,four (4) stories in height with subterranean parking).5. Commercial/retail/office/medical (up to 160,000 sq. ft. south of the I-894interchange, north of W. Layton Ave., five (5) stories in height).6. Convenience store/gas station/car wash (south of the I-894 interchange, north ofW. Layton Ave.).7. Billboard (north or south of the I-894 interchange). An eventual Development Agreement will go before the Common Council for approval at a futuredate. Cobalt is working on rough site plan layouts, which are driven by wetland delineation, engineering requirements, projected incremental value, desired location for potential users, access requirements from potential users, among many other factors, according to Village documents. Staff recommends approval and recommends that a public hearing be held on December 15, 2020.