Pabst Farms agrees to delay on Walmart plans
The developers of Oconomowoc's Pabst Farms project have agreed to delay plans to sell land for a new Walmart and Sam's Club stores, and will instead seek other retailers for those parcels.
Pabst Farms has agreed to not enter an agreement with Walmart for one year, according to a statement released Tuesday by Oconomowoc Mayor Jim Daley.
If, after that period expires, and a Walmart proposal resurfaces within three years, Pabst Farms "will agree to allow the city's Common Council to make a determination on whether or not we want those particular retailers in our community at that location," the statement said.
Also, Pabst Farms is agreeing not to pursue "legal retribution" if the council's decision opposes a Walmart proposal, the statement said.
In return for that concession, the council would approve changes to the Pabst Farms development agreement that would allow additional land within the project's Town Centre retail area.
Other changes include allowing larger anchor stores at Town Centre; the removal of a monument wall between the development and I-94, to be replaced by landscaping; and replacing underground storm water storage with surface ponds, the statement said.
The proposal is a reaction to strong community opposition to development of a Walmart and Sam's Club at Pabst Farms.
"Pabst Farms has shown a recognition that a portion of Oconomowoc has been vocal in their concern over the direction the development has taken," Daley said in the statement.
The changes sought by Pabst Farms would make it easier to sell the Town Centre parcels to other retailers, Daley said. The proposed agreement would help those efforts, while preventing a possible lawsuit against the city, he said.
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Commercial Real Estate News
A proposed $55 million 27-story apartment tower for Milwaukee's east side has been rejected by the Common Council.
The council on Tuesday voted 10-5 to support the project, falling two votes short of the supermajority needed for approval. The zoning change needed 12 votes because a protest petition was signed by enough adjacent property owners, said Ald. Ashanti Hamilton, council president.
The opponents were Ald. Robert Bauman, whose district includes the site, along with aldermen Cavalier Johnson, Mark Borkowski, Jose Perez and Tony Zielinski.
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