New Berlin City Center value increases nearly $15 million in two years

By Katherine Michalets  - Freeman Staff

Dec. 2, 2015

Even without this new Starbucks in the calculations, property values in the New Berlin City Center area have jumped dramatically.
Charles Auer/Freeman Staff

NEW BERLIN - Since 2013, the real estate value of the City Center in New Berlin has increased by $14.6 million, which doesn’t include some projects recently completed, according to a staff report.

The report containing updates on the City Center initiatives is included in the meeting packet for the 6 p.m. Plan Commission meeting Monday. In 1998, a 30-person committee was formed to create a series of objectives for the City Center area, which is bordered by Coffee Road, National Avenue, Moorland Road, Howard Avenue and Deer Creek. It contains the Moorland Square and vicinity, Sendik’s Plaza, public library and City Center Medical Center. The committee’s goal was to create an identity for the City Center that emphasized new development and provided a safe environment for vehicles and pedestrians.

According to the report, the City Center is about 138 acres in size, of which approximately 58 percent is commercial, 12 percent is multi-family residential, 6 percent is single-family residential, 21 percent is conservancy and 3 percent is institutional. Approximately 18 acres remain vacant.

Many development projects were undertaken in the past few years, including the former Burger King site being redeveloped into a multi-tenant commercial building that houses Dunkin’ Donuts, Tobin Jewelers and Pure Family Chiropractic. Also, the Central Pointe apartment complex with 75 one-, two- and three-bedroom units was completed this year. Redevelopment of the Mobil gas station at the corner of Moorland Road and National Avenue resulted in a new Starbucks with outside seating and extensive landscaping, according to the report.

A planned unit development for Blair’s True Value was also recently approved by the city, according to the report. The PUD will allow the longtime New Berlin business to continue operating in a more organized fashion and make façade updates.

Additionally, directly across from the City Center and Moorland Road, an approximately 5,600-square-foot multi-tenant building is under construction on the Qdoba Plaza parcel, according to the report.

“Because of this new development and the past success of this area, the 2015 assessed real estate value of the entire City Center area is approximately $95.6 million,” reads the report. That amount does not include the new Starbucks and only a portion of the value of the Central Pointe apartments. The current occupancy rate is 90 percent for the entire City Center area.

Some future improvements planned for the City Center include the installation of decorative planters in the spring, updating and installing additional landscaping within medians and terrace areas and continuing to implement the National Avenue lighting plan to install additional decorative street lighting with new development and redevelopment projects.