Sales, leasing underway on $113M Union Grove housing 15 years in the making
By Teddy Nykiel – Reporter, Milwaukee Business Journal
Early home sales are underway and apartment leasing is in progress for the $113 million mixed residential development that’s been in the works in the village of Union Grove since 2007.
The 160-acre Canopy Hill development is slated to have 188 single-family houses, 60 apartments, 8 ranch-style duplex condominiums, 62 townhomes and up to 60 assisted living units. It will also include 18 acres of open space, according to the village.
Construction started in September 2021 and the first phase will be completed by mid-July, Craig Bartsch of Bear Development said via email. The full project is expected to be built over eight years, according to the village.
The site is near the intersection of 58th Road and the west side of South Colony Avenue/Highway 45, across from Union Grove High School.
After the project was first introduced, progress was delayed due to the Great Recession. It was reintroduced in 2019, according to the village.
The project is expected to add $112.8 million in assessed value when it’s fully built out, which represents a 32% increase compared with the village’s total 2020 assessed value, according to the village.
There are two tax incremental districts associated with the project, including an existing one and a newer one that would use future tax increment generated by the development to reimburse the developer for infrastructure costs up to $22.4 million, according to the village.
The first phase of single-family homes, which includes 62 lots, will be constructed by Bear Homes, Newport Builders Inc., Korndoerfer Homes and Harpe Development, Bartsch said. The lots are set to be completed in mid-July and home construction could begin after that.
Korndoerfer Homes, which has offices in Brookfield and Sturtevant, began marketing 16 single-family lots on May 9. Home and lot packages are expected to start in the $500,000s. Ranch-style homes will be a minimum of 1,750 square feet and two-story homes will be at least 2,200 square feet.
Korndoerfer Homes has had some early interest from buyers but expects to have more after the roads are completed and prospective buyers can visit the site, owner Wolf Korndoerfer said.
An entity affiliated with Newport Builders of Mount Pleasant, owned by Ray Leffler, previously owned the land that is now becoming Canopy Hill.
Bear Homes is building the ranch condominiums and townhomes, which are available for sale, Bartsch said. Construction on the first phase, which includes eight condos and 18 townhome units, is set to be done around mid-June, he said.
The apartments are expected to be fully completed by Halloween with the first building available by the end of August, Bartsch said. There are studio, one-, two- and three-bedroom apartments available with rents starting at $1,265, according to the leasing website. Bear Property Management is the operator.
As for the senior living portion of the development, Bear is working with “several groups to curate the best owner/operator for the site,” Bartsch said. The first phase could include up to 60 units but the exact number is yet to be determined, he said.