Developer proposes relocating Fox Point Village Hall, adding single-family homes
Fox Point officials and residents discussed a development proposal that would create an eight-acre neighborhood, relocate the public works and village hall buildings and create a new community pool.
Scott Yauck, president and CEO of Cobalt Partners, and a 27-year Fox Point resident, said in a statement that Cobalt’s plan is to optimize land utilization by developing a “highest and best use” on a currently tax-exempt parcel and increasing the village’s tax base by more than $20 million.
The development would create a funding source to build a new, efficient public works facility in a more appropriate location, Yauck said.
The village board took no action when it reviewed plans for the project at a Dec. 14 meeting. Yauck said Cobalt will hold public meetings to share its concept plans with residents before seeking village approval for rezoning.
The location of the public works building would be at Port Washington and Bradley roads — a “blighted” area that has remained vacant for 15 years. Cobalt owns the four acres at 7878 N. Port Washington Road and at the northeast corner of North Port Washington and Bradley roads.
According to a needs assessment from March 2020, the existing DPW office building faces a 10-year maintenance and repair cost of $2.8 million.
The housing development at the village hall’s current location meets a need and also creates a tax base to generate revenue, Yauck said at a village board meeting.
Cobalt proposed four configurations for single-family lots and senior living options for the existing DPW and village hall site on Santa Monica Boulevard.
Options include up to 27 single-family lots and 28 senior living residences or 30-36 single-family lots only. Yauck told board members that each home would be 2,500 to 3,500 square feet and would be valued between $500,000 to $700,000.
The redevelopment would generate an estimated incremental value of more than $20 million, according to Cobalt.
The proposed neighborhood would include shared common green spaces to create a strong sense of community and connectivity, according to a Cobalt news release.
The proposal could also facilitate redevelopment of a new community pool, which is in need of replacement as well based on recent studies undertaken by the village, the release said. A possible relocation to Longacre Park could accommodate an upgraded pavilion that could be shared with the village’s ice rink.