The Corners agreement approved by committee

Special to The Freeman

Feb. 26, 2015

TOWN OF BROOKFIELD ó During its meeting Wednesday, the Community Development Authority approved the developerís agreement for the upscale retail and residential The Corners project.

Town Administrator Rick Czopp said there was some basic discussion and questions asked about the project and the CDA approved the developerís agreement, which was approved by the Town Board on Feb. 18.

Last week, Marcus Corporation said it had entered a joint venture agreement with IM Properties and Bradford Real Estate to lead the project valued at close to $200 million. IM Properties and Bradford will serve as the managing member in the joint venture and The Marcus Corporation will remain as a partner in the joint venture, according to the announcement.

Czopp said a fence has been placed around the property and demolition should begin soon. The target completion date for the 750,000-square-foot The Corners is fall 2016. Also included in the project is a Von Maur department store, luxury apartments and restaurants.