BROOKFIELD, Wis., May 15, 2015 (GLOBE NEWSWIRE) -- Contact: Anna Stern (608) 204-7204
Wisconsin Dignitaries and Project Leaders Celebrate Groundbreaking of The Corners of Brookfield
Brookfield Corners, LLC in partnership with its design-builder, Pepper / Tri-North, LLC joined state and local officials and honored guests on Tuesday, May 12th to celebrate the groundbreaking of The Corners of Brookfield—the much anticipated new 750,000 square foot premier lifestyle center to be located on the land bounded by West Bluemound Road, North Barker Road, and I-94 in Brookfield, WI.
After a brief introduction from Ken Egidi, president and CEO of Pepper Construction Co., and Tom Thayer, President and CEO of Tri-North Builders, Reed Hall, Secretary and CEO of Wisconsin Economic Development Corporation, took the stage and addressed the significant economic impact this development will have on the community. Hall also noted the strong partnerships on which the project depends and congratulated the project leaders, saying, "This is a wonderful development. It's an exciting day for Wisconsin, the town of Brookfield, Waukesha County and the entire Milwaukee area."
The Corners of Brookfield is being developed by two powerhouses in retail development, Bradford Real Estate Companies and IM Properties.. Executives from both were in attendance with Vice President of IM Properties Robert Gould andPresident of Bradford Real Estate Steve Pagnotta both taking the stage to declare their pride in the project and thank those who have worked diligently over the last 8 years to bring it to this point.
As for the project's financial impact, in addition to the estimated 1,100 permanent new retail jobs that the project will create, Thayer said, "we expect the project to generate around 800 temporary construction jobs at the project's peak." According to an independent assessment by the Town of Brookfield, the development is expected to generate over $8 million in annual sales tax revenue. The development and land improvements are also expected to create approximately $187 million in new tax revenue.
Spread across 19 acres of land, the $200 million development will serve as Milwaukee's most vibrant destination for luxury shopping, dining and entertainment. Anchored by Wisconsin's first Von Maur department store, other retail tenants will include a mix of men's, women's and children's fashion and accessories, specialty retailers, home goods, and more. The development will also feature luxury apartments—a testament to the fast pace of economic growth in the area.
To stay updated on progress at The Corners and view photos from the groundbreaking, visit the Facebook page at www.facebook.com/CornersBrookfield.
Photography credit: LisaZemblowski@Edward Fox
Photos accompanying this release are available at:
http://www.globenewswire.com/newsroom/prs/?pkgid=32996
