Targeted Investment Areas
Total Page:16
File Type:pdf, Size:1020Kb
Targeted Investment Areas Targeted Investment Pursuing Progress | Sustaining Success Areas Capitol Drive Corridor The City of Brookfield has established Targeted Investment Areas (TIA’s) that comprise the major commercial nodes in the City. Five of our ten TIA’s are located along the Capitol Drive Corridor. From East to West: 124th Street Corridor (A) – 124th Street is the eastern Gateway to Brookfield, and features a mix of retail, restaurant, service, and industrial uses. Close proximity to Interstate 41 (The Beltline) makes this a great location for companies serving the region from one central hub. Lilly Road (B) – A neighborhood-scale node at Lilly and Capitol provides retail and service businesses, including the Wheaton Franciscan Medical Group and Children’s Hospital of Wisconsin, and Wheel and Sprocket. Calhoun Road (C) – A neighborhood shopping cluster at Calhoun includes a Pick ‘N Save grocery, PNC Green Branch Bank, and other Premier Real Estate retail. Honest-1 Auto Care Service is currently under construction. Brookfield Road (D) – Sendik’s Towne Centre is a mixed use development featuring upscale retail, restaurants, services, and second floor office space. Anchored by Sendik’s Fine Foods, the Centre Includes Café Manna, Jake’s Burger, and North Star Bistro. A new Starbucks with a drive-thru will be built along Capitol Drive. Northwest Gateway (E) – The Northwest Gateway includes the Gateway West Business Park, with high quality office and light industrial buildings in a park-like setting. The 26 acre Gumina Commerce Center is under development north of Capitol on Gumina Road, to provide modern light industrial space. Safro Toyota annexed into the city and built a new 70,000 square foot dealership. Capitol Plaza Capitol Drive Corridor Capitol Drive (State Highway 190) is a major arterial, providing a direct link to Milwaukee and Wauwatosa to the east, and to Pewaukee and Lake Country to the west, while also accommodating local traffic. Average daily traffic counts of up to 49,000 vehicles per day, and strong demographics create prime sites for retail, restaurant, and service uses. The Capitol Drive Corridor has 1.2 million square feet of retail, 1.2 million square feet of office, and 3.7 million square feet of industrial space. Destination retailers include home improvements and furnishings, sporting goods, fashion clothiers, and jewelers. Safro Toyota Demographics 1 Mile 3 Miles 5 Miles Recent Developments Population 7,707 34,521 93,576 1) Restaurants Chick-fil-A Households 2,733 12,406 36,400 Cousins Subs % Owner Occupied Homes 94% 88% 75% Starbucks Median Household Income $77,767 $78,875 $65,978 2) Retail & Service Soerens Ford Safro Toyota Average Household Income $99,957 $101,714 $82,150 Soerens Ford *From Intersection of Calhoun and Capitol Source: Xceligent (2015) Honest-1 Auto Care Local Rental Rates (Per Year NNN) Xperience Fitness Rate 3) Office Retail Use $ 10 – 16.50 Adserts, Inc. CC&N Office Use $10 - 21 Codeworks, Inc. Sendik’s Towne Centre Source: Xceligent (2015) Doering Leasing Daily Traffic Counts Premier Real Estate Ring & DuChateau Intersection Average Capitol Drive at 124th Street 49,000 Capitol Drive at Brookfield Road 37,400 Source: Wisconsin DOT (2015) Chick-fil-A Targeted Investment Areas Pursuing Progress | Sustaining Success 124th Street Commerce District The 124th Street Commerce District lies along the eastern boundary of Brookfield, stretching from North Avenue on the south to the Village of Butler, just south of Hampton Avenue, on the north. 124th Street parallels Interstate 41, the west Beltline expressway in the Milwaukee region. Direct access to the freeway is provided at North Avenue, Burleigh Road, Capitol Drive, and Hampton Avenue, making the 124th Street Commerce District a prime choice for businesses looking to serve the region from one central location. A wide range of industrial, distribution, sales, and service businesses anchor the Commerce District along 124th Street and for several blocks to the west. Retail and restaurant uses are found throughout the district as well, and are particularly concentrated at 124th and Capitol. Traffic counts of near 49,000 vehicles on Capitol Drive and 22,800 on 124th Street make this a premier retail location. Wisconsin Firearms Training Center The North End of the district is anchored by the headquarters and R&D facility of Milwaukee Electric Tool, at 130th and Lisbon. Milwaukee Tool is constructing a new four-story, 200,000 sq. ft. office building to double the size of its headquarters and add 500 engineering and other high quality jobs. The south end of the district has seen new investment in recent years. Exhibit Systems, Impact Networking, Stark Asphalt, and Wisconsin Firearms Training Center have transformed this stretch of Burleigh. Several other businesses have located in the district. The City of Brookfield worked with property owners and businesses between Burleigh Road and Feerick Street to build storm sewer and new concrete streets in the area. Entry signs have been installed to identify this area as the 124th Commerce District. Impact Networking Milwaukee Tool 124th Street Commerce District Demographics 1 Mile 3 Miles 5 Miles Population 4,368 61,426 231,419 Households 1,804 25,812 92,480 % Owner Occupied Homes 63% 71% 65% Median Household Income $61,180 $56,512 $50,817 Average Household Income $72,552 $71,517 $60,964 *From Intersection of 124th and Burleigh Source: Xceligent (2015) Local Rental Rates (Per Year NNN) Exhibit Systems Rate Retail Use $14 - 16 Office Use $12.50 - 16.50 Source: Xceligent (2015) Daily Traffic Counts Intersection Average Capitol Drive at 124th Street 49,000 124th Street at Capitol Drive 22,800 124th Street at Burleigh Road 27,800 Culver’s Restaurant Source: Wisconsin DOT (2015) Recent and Future Developments Chick-fil-A Exhibit Systems, Inc. Image 360 Impact Networking Laacke & Joys Manufacturing Stark Asphalt Wisconsin Firearms Training Center Xperience Fitness 360 Direct Kohl’s at Elmbrook Plaza Shopping Center Targeted Investment Pursuing Progress | Sustaining Success Areas Village Area The Village Area is the historic origin of settlement in Brookfield, and the original center of commerce and social activity. The Village is centered on Brookfield Road, between North Avenue and Burleigh Road. Robert Curran and his family were the first permanent settlers in the area in 1836, and began clearing land for farming. The 1840 Census showed a population of 148 in the then-Town of Brookfield. The arrival of the Watertown Plank Road in the 1840’s, followed by the railroads in 1850, expanded the area’s role as a center of trade and commerce. Two rail lines intersected in the area, which became known as Brookfield Junction. The first train depot was constructed in 1853. Today’s existing depot was built in 1867. The Village Area has the highest concentration of historic structures in Brookfield. Today a new sense of energy is evident in the Village, as businesses and residents choose the area based on its small town feel and historic character. The City is working with Brookfield Village, Ltd., which conducts a weekly Farmers’ Market in summer, an annual Kids Fest, Art & Spirit Crawl, and Holiday Tree Lighting, among other events. Oo La La Beauty Lounge Historic Train Depot New Pergola at the Village Farmers’ Market Village Area Demographics 1 Mile 3 Miles 5 Miles Population 4,995 33,897 91,568 Households 2,123 12,065 35,490 % Owner Occupied Homes 70% 86% 75% Median Household Income $76,103 $83,379 $69,913 Average Household Income $95,088 $109,666 $87,744 *From Intersection of Brookfield Rd & Pleasant St Source: Xceligent (2015) Biloba Brewing Company’s New Home Local Rental Rates (Per Year NNN) Rate Retail Use $12 - 18 Office Use $12 - 18 Source: Xceligent (2013) Daily Traffic Counts Intersection Average Brookfield Road at Burleigh Road 7,100 Brookfield Road at North Avenue 7,900 Brookfield Center for the Arts Source: Wisconsin DOT (2015) Recent Developments Biloba Brewing (New Location on Brookfield Rd) Brookfield Junction, Phase II (Under Construction) 29ten Salon Olive Promotions Oo La La Beauty Lounge The Gift Shoppe The Rarity – Hair Salon Vino Cappuccino Fox River Bike and Recreation Trail (Coming 2018) Brookfield Junction – Phase II Under Construction Targeted Investment Areas Pursuing Progress | Sustaining Success Civic Center The City’s 1959 Comprehensive Plan called for creation of the Civic Center as the heart and focal point of the emerging City of Brookfield. As the City grew, the construction of City Hall, the Safety Building (Police and Fire Department, Municipal Court), the Public Library, and the Senior Community Center gave definition to the area. The Civic Center is located at the geographic center of the City, near the intersection of North Avenue and Calhoun Road. The United States Post Office, Brookfield Central High School, and other schools and churches are clustered nearby. The Civic Plaza, adjacent to City Hall, is the site of lunch hour and evening concerts, movies, and other activities. A Farmers’ Market is held on Saturday mornings during the summer season. Ruby Isle Shopping Center offers Pick’N Save, Walgreens, and other convenient retail, along with Panera Bread, Papa Murphy’s Pizza, and Yo Mama! Frozen Yogurt. Professional services and medical offices line North Avenue, one mile east of Elmbrook Hospital. The new Calhoun Health Center is currently under construction across the street from City Hall. Froedtert & the Medical College of