Golden Valley Place
Golden Valley Place is a 40 acre tract of land at the corner of Golden Lake Road and Valley Road, also known as highways “B” and “BB”. The address is 3544 N Golden Lake Road. The legal description is S1/2 W1/2 NW1/4 Sec 8 T7N R17E 40 Ac R1126/596, and the tax key is. SUMT0606998. It is currently in the Town of Summit; however, it is in the process of being attached to the City of Oconomowoc.
Golden Valley Place is a collaborative effort by Maureen Stapleton and Steve and Charlie Boysa. It is intended to be a uniquely designed neighborhood with a sense of pride and community, consisting of upscale apartments; stylish side by side condos and eclectic single family homes in an area in the southwest part of the City that is lacking in living units of this type. It is not subsidized or low income, but meant to appeal to the vast majority of the workforce that are presently or about to work in positions in the City of Oconomowoc. It will be comprised of 21 single family lots, 20 side by side duplex lots, and 8 sixteen unit apartment buildings, in a 1/3rd 1/3rd, 1/3rd ratio over a 40 acre meadow site. To accomplish this we are seeking necessary zoning and a Conditional Use Permit for a group development. The requested zoning is SR-4, MR-6 and UR-10. The developers intend to limit the density by means of a deed restriction. (see attached Rezoning Map).
The single family homes will have a “cottage” or “bungalow” style featuring porches and covered entries to promote the feeling of a safe and comfortable neighborhood (Click here for style ideas for empty nesters
and first time home buyers
.) The side by side duplex condos are meant to appeal to a segment of the marketplace who wishes to enjoy owning a home without the typical outside maintenance that comes with living in a single family residence (Click here for style ideas
.) The apartments will be spread over 18 acres of land. Its centerpiece will be a large pond stocked with fish and a multi-use building with swimming pool and a resort quality fitness center. A community garden and children’s play area will be available for use by residents of the apartments. These are the types of amenities that have proven to be popular and successful In order to provide these amenities, however, there needs to be no less than 128 units to make it economically feasible. There is no land available within the historic borders of the City that would accommodate the apartment complex with abundant open space, privacy and quality (Click here for Lake Park's Prototype Apartments
This neighborhood will fill the need that has been created on the south end of town where we have 800 new jobs at Aurora Hospital 2 miles away, an Intermediate School that will employ 76 people and have 800 students just .3 miles away, the 2 million-square–feet of Roundy’s & Target distribution centers, the Pabst Retail Town Centre of 1 million square feet, as well as all of the businesses and manufacturers at the Corporate Center, Ace Machinery, Sentry Equipment and new office space to be created at Pabst Commerce Center (Click here for a map of Major Businesses
.) This is in addition to Nimrod Farms, Extendicare, Summit School the YMCA and Summit Center. Over 40 local employers
were recently surveyed in Oconomowoc and support this development, now, in this location
. The vast majority of employee concentration comes from the area within 2 miles of Golden Valley Place. These employers employ approximately 14,213 employees which is a greater number than the entire population of the City of Oconomowoc. It also represents $3,790,880.95 in real estate taxes generated by these businesses. The message from these employers was loud and clear: they need and want the three types of living options this project will provide for people with positions ranging from governmental to nurses, IT personnel, teachers, office staff and other varieties of newly created jobs on the south side of Oconomowoc. (Please see income examples of these people)
Bob Duffy is quoted as saying “Oconomowoc is changing, and with that growth the city is becoming more of an employment center than in the past”. With all of this new employment comes the need for new housing inventory of this type. Pabst Farms plans 205 single-family homes on half acre lots that will sell for between $550,000 and $750,000 and 26 homes on one-acre lots priced between $750,000 and $1 million. Next to the subject site will be Arrowood subdivision, where the lots are scheduled to sell starting at $175,000. The proposed development is not a departure from what the City has done in the past. The City has a history of fine businesses that have located here and housing followed. As we add to this workforce, we have the responsibility to add to the housing stock. We also need to provide luxury apartments, condos and smaller homes for the senior population, retired baby boomers, empty nesters and career starters.. There is an overwhelming case of need for this type of housing in this location
and we intend to fill the void.
A recent report by the Urban Land Institute states “demand for mixed-use development is growing as the population ages and the share of households with children shrinks”. The authors project that the demand for attached and small lot housing will exceed the current supply by 71%, while large lot housing will actually be less in demand. In addition, with the new constraints of qualifying for home loans, the supply of renters will likely grow. The next wave of boomers is expected to sharply boost demand for apartment residences according to the National Multi-Family Housing Council. Using rental rates from 2005, the council concluded that the combination of an increase in the number of households and the changing age distribution of those households would increase the number of renters by as much as 10% according to a Research Notes report published by the council in July. To add to that, for the first time, the Wisconsin Farm Bureau Federation has adopted a policy in favor of high-density housing developments in rural areas to preserve farmland. “If housing developments are to be built in rural areas, they should be higher density projects designed with homes clustered together on small lots.” According to Emerging Trends in Real Estate 2008, “Increasingly, people want residential environments closer to where they work. Inspired by new urbanist concepts, these projects have pedestrian-friendly layouts, offering varied living options—condo, single family, and apartments.” The City needs to plan for this increase in living arrangements and rental demand and the place to do it is near the new employment opportunities.
We are aware that an amendment to the Land Use Plan would be required. The current plan is over a decade old and Land Use Plans must be reviewed periodically and changed to meet current needs (Click here for Land Use Plan and Rezoning
.) In the 1990s no one could foresee the growth that would take place in this short amount of time. No one contemplated an Intermediate School on Valley Rd., or an Aurora Hospital on Hwy. 67. Nor did they envision the City creating a 21 million dollar TIF district at Pabst Farms. In 1995 Mike Slavney was the Oconomowoc City Planner and the author of the current Master Plan. That same planner is currently the City of Watertown’s Planner. In 2000 he approved the type of apartment development that we are requesting, on a site much like what we have on the south side of that city. Not only did he approve it, but approved it with more units (176) on less acreage making the density considerably more. The Border agreement between the City of Oconomowoc and the Town of Summit was intended for growth on the south side of the City for which there should be appropriate Land Use Plan amendments. The sewage plant and lift station has the capacity to accommodate this development, the County is in agreement with the access point locations and Oconomowoc City Utilities welcome it. As recent as Feb. 27, 2008 the Staff took up the request for an amendment to the Master Plan on Conditional Use Permits, Zoning Map Amendments and zoning code amendments required to build a Fire Station on the future extension of the Oconomowoc Parkway, only a short distance from this proposed development. In fact, changes to the Land Use Plan are not uncommon. The growth and jobs are in this immediate area which is why this is the perfect location for such a development. For the public benefit of our community, the Land Use Plan needs to be amended. We request such an amendment.
It now not only appears imminent that gas will go up to $4.00 a gallon: it already has. A good number of the employers surveyed expressed concern over rising fuel costs and how it would affect getting and keeping their workforce. Who will then work at the Intermediate School, Pabst Farms, Aurora or the Corporate Center? That is why a mixed use development is so important on this parcel, especially to include the multi-family piece. In looking at data the City has relied on when counting multi-family units for density ratios, we find the data is skewed. That information includes all the units at Shorehaven, Wilkinson Woods, Wilkinson Manor and Hickory Manor which are not available to rent to the open market. Berkshire is income and age specific and not available to everyone who would like to be a tenant. It also includes, as rentals, various condominium projects such as Draper Hall, Stoneview, LaBelle Shores, Lakeshore Club, and Lake Country Estates which have deed restrictions not allowing rentals (Click Here
.) In addition, since that information was available, we have seen 100 units taken out of the rental pool due to condo conversions. It is clear that we need new upscale apartments in the City of Oconomowoc. The Boysas have a respected history in Oconomowoc as taxpayers and developers of several multi-family apartments to include: Grace Manor and Parkside apartments. They also improved the Bolson Drive area, having purchased lands along the south side of the street and building side by side duplex condos which created an attractive appearance. Of greater significance, they purchased Olympia Villas in 1997/1998 and reconstructed the rotting foundations and sewer problems, as well as rehabbing 90 units. This resulted in a gain in valuation for the City from approx. $3,000,000 to approximately $9,000,000. The Boysas sold that project and it has now been converted to condos. BASCO Development & Management has been involved with the multi-family property business for over 30 years. The success of their business is largely due to the quality of construction along with the extensive service that the residents and buyers of their properties experience. In each of their apartment developments, they provide professional onsite and offsite management
. This assures the highest quality of tenants, a good many of whom become long term renters. Applicants are given a full criminal and background check, need to have a high credit score and furnish prior rental history and professional references. By having the number of apartments across Wisconsin that the Boysas own, they have the knowledge and finances necessary to hire the best in management who are well trained and can address tenant issues in a timely manner.
Golden Valley Place is needed at this location. A workforce larger than the population of the whole City of Oconomowoc has been identified, and the employers are aware of the need for housing for their employees which will help them with recruitment and retention. In addition there are a growing number of seniors and empty nesters who need appropriate housing. By combining smaller lots, side by side duplex condos and apartments, a sense of community will be established in this neighborhood which could become a model for other communities. It will be a lifestyle neighborhood transitioning from the downtown to Pabst Farms. With the new school, hospital, and corporate and retail centers, we have created an urban setting on the south side of the City. On April 9th, Staff recommended the proposed Land Use Map amendment be taken to Plan Commission. By approving this zoning change you can give a new living environment to those who want to come to, and remain in Oconomowoc, having been given the opportunity to live, work, shop and recreate right here. It is our intent to create a unique living environment, where grandparents can take their grandchildren fishing: where families can safely go trick or treating in the neighborhood: and people can sit on their front porch and be proud of where they live. We believe Golden Valley Place is needed as presented and will be a valuable asset to the area as well as a diversified tax base outside the TIF District for the City of Oconomowoc.
We hope you will agree.