Feb 27 2013
The Marcus Corporation today announced it has signed an agreement with Milwaukee-based Mandel Group, Inc. to direct development of the residential component within The Corners of Brookfield. Approximately 150 luxury apartments will be built above the retail shops in the open-air, town-center-style fashion development in the town of Brookfield, Wis.
Mandel Group will serve as a consultant overseeing residential design, development and apartment leasing. Upon completion, Mandel Property Services, Inc., an affiliate of Mandel Group, will manage the leasing and operation of the upscale apartment community.
“We are proud to join forces with Mandel Group on the luxurious residential apartments at The Corners,” said Katie Falvey, director of real estate for The Marcus Corporation. “Mandel is without question the premier multi-family developer in the greater Milwaukee area. Its many high-quality properties help shape and maintain the integrity of the unique neighborhoods in which they are located, both downtown and in the suburbs. Mandel’s expertise in innovative design, construction and management of stylish residential communities makes them the perfect addition to our outstanding development team.”
“Mandel Group is truly excited to have been asked by The Marcus Corporation to join the development team for The Corners. We continue to find strong demand for this type of upscale housing in strategic suburban locations, with immediate access to specialty shopping and services in a dynamic town-center setting. The proximity of the region’s high concentration of employment opportunities is a huge advantage for future residents looking to reduce their commute times,” said Robert B. Monnat, partner and chief operating officer of Mandel Group. “Development projects like The Corners are rare in today’s suburban market, therefore few opportunities exist to create this type of genuine neighborhood from the ground up. The Corners is a very unique product in a very special residential-development setting that we know will have broad appeal.”
The residential apartments, which will include a broad range of sizes and floorplans, will be constructed on upper-floor levels overlooking a central park space that is a focal point of the development. Amenities will include balconies, concierge services, a social media center for residents, and a health and fitness center.
“We find this type of housing opportunity particularly appealing to professional households attracted by the wide range of shopping, restaurants and services just a few steps out their front door,” Monnat commented. “The immediate freeway access is also a huge plus. In our past experience, this type of mixed-use housing development beat all expectations in terms of pricing and absorption. We would expect similar performance for the residential component of The Corners.”
“The Corners will be the first and only project in southeastern Wisconsin that can authentically bring the density and vibrant experience of Milwaukee’s classic neighborhoods to the western suburbs,” said Falvey. “With the unique single level of covered parking, visitors will conveniently park once, out of the elements, then immediately ascend to a compact pedestrian-oriented neighborhood where shops, restaurants, green space and homes converge into a 24/7 environment. It is a place where shopping, social interaction and leisure-time activities mix in an attractive and memorable setting – providing a true sense of place. The Corners will be an engaging sidewalk-oriented environment where many people can do many things – from their daily grocery run or morning coffee to special occasion dining and shopping, and everything in between.”
“We continue to make major progress on all fronts of The Corners development and look forward to announcing more details in the coming weeks,” commented Falvey.
Anchored by Wisconsin’s first Von Maur department store, The Corners is a mixed-use 460,000 square-foot development in suburban Milwaukee that will be built on a 19-acre site at the intersection of I-94, Barker Road and Bluemound Road, the preeminent retail corridor in Wisconsin. In addition to the luxury apartments, The Corners will feature national specialty and fashion retail along with best-in-class local and regional shops and restaurants, all served by a unique single level of covered parking.
In addition to The Marcus Corporation, development team partners include NAI MLG Commercial, Bayer Properties, DDG Architects, Eppstein Uhen Architects and Tri-North Builders.
Source: http://www.marcuscorp.com/