Wingspan Development Group and Nicholas & Associates Acquire 59 Acres in Pabst Farms in Oconomowoc, Wisc.
Nicholas & Associates and its sister company Wingspan Development Group, a national development firm active in mixed-use and multifamily properties, announced today they acquired nearly 59 acres in Pabst Farms and will be proposing a new live/work/play concept for the site in the master-planned community in Oconomowoc, Wisc., 35 miles west of Milwaukee. Expanding on Pabst Farms’ current residential, retail and commercial offerings, Nicholas & Associates and Wingspan will soon be submitting a plan for the city to review.
“We are very bullish on Oconomowoc and excited to share our vision for Pabst Farms with the city,” said Nick Papanicholas, Jr., president of Nicholas & Associates. “This is my Wisconsin home, so I have been driving by the property for years, and it would be an honor to add to the Pabst Farms legacy. Our family has 45 years of experience in developing thoughtful buildings that contribute to communities’ quality of life – in fact, we’ve already executed some school projects in Oconomowoc that reflect that philosophy. We plan to bring that same experience to this project and work closely with residents and officials to ensure the results align with local needs for modern live/work/play options.”
Oconomowoc has grown in population from 12,259 in 2000 to 18,379 in 2021, according to the U.S. Census. Last fall, a study by the city determined it had about 8,000 housing units and a shortfall of about 2,000 rental units.
Wingspan is best known for successful Class A suburban rental communities in Oak Creek, Wisc., and Brookfield, Wisc., as well as Tampa and suburban Chicago. Typical amenities at its apartment projects include outdoor pools, clubhouses with entertainment lounges and coffee bars, fitness centers, pet spas and dog parks, remote work business suites and conference areas and more.
“Our Pabst Farms proposal will build on the region’s growth while adding a sizeable tax base,” said Christopher Coleman, vice president of development for Wingspan Development Group. “We’re excited to breathe some new life into Pabst Farms and are working to establish the right to develop more of Pabst Farms in the future. We look forward to bringing to Oconomowoc the same attention to detail that we have mastered so successfully in our other developments.”