A 16-acre Brown Deer site has been sold. A residential development is in the works.
A 16-acre Brown Deer site has been sold to a development firm that is working on plans for a residential community there.
A Royal Capital Group Ltd. affiliate bought five parcels, mainly on North Arbon Drive, south of West Brown Deer Road, from an affiliate of F Street Group LLC for $2,275,000, according to newly posted online state real estate records.
Most of the site, which is on both sides of Arbon Drive, is vacant land. Another parcel, at 4801 W. Brown Deer Road, has a former Associated Bank branch.
Royal Capital is working on plans for a residential "lifestyle campus" at the site, said Chief Executive Officer Kevin Newell.
"Brown Deer is a community with great history, progressive leadership and a profound level of middle class diversity," Newell told the Milwaukee Journal Sentinel.
Brown Deer officials have had preliminary discussions with Royal Capital about the firm's plans, said Nate Piotrowski, community development director.
Royal Capital's projects include a pending proposal for nearly 400 apartments in the first phase of the firm's development of a 52-acre YMCA property, east of North Swan Road and south of West Fairy Chasm Road, on Milwaukee's far northwest side.
That development, known as Cudahy Farms Healthy Living Campus, is to include extensive recreational amenities, as well as a food hall that includes a demonstration kitchen; a health and wellness center; a neighborhood business center that includes meeting space, and makers space that features a woodshop, 3-D printing and audio-visual equipment.
The Brown Deer site lies just east of Bank Mutual Corp.'s former headquarters, 4949 W. Brown Deer Road. Bank Mutual was sold in 2018 to Green Bay-based Associated Banc Corp.
F Street Group bought Bank Mutual's former headquarters, the bank branch site and the vacant parcels a few years ago from Associated. The firm sold the former headquarters in January 2022 for $2.5 million to an affiliate of transmission remanufacturer ETE Reman Inc., which has its offices there.
F Street also developed the nearby Greenlink Residences apartment community, 8725 N. 43rd St.
Tom Daykin can be emailed at tdaykin@jrn.com and followed on Instagram, Twitter and Facebook.
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This article originally appeared on Milwaukee Journal Sentinel: 16-acre Brown Deer site sold for planned residential development
