Listen to this articleCALEDONIA, Wisconsin – Caledonia officials have approved a developer agreement for a $440 million, 10-building development on the site of a former country club.
Ashley Capital, a commercial real estate firm with offices in Chicago, Florida and New York, wants to build a multi-level, master-planned business park with ten Class-A industrial buildings with up to 360,000 square feet of space, according to a plan submitted by the municipality of Caledonia.
The development agreement was approved by a 5-1 vote on Aug. 14, village officials said. Ashley Capital’s project, called the South Hills Commerce Center, will be developed in a new tax increment district.
The developer wants to buy several parcels of land in the former South Hills Country Club from current owner Hintz Real Estate Development Company. Spring 2024 plans showed concepts for buildings ranging in size from 198,000 to 554,000 square feet. The project will be located on the southeast corner of Northeast Frontage Road and Golf Road.
At last week’s meeting, the council unanimously approved awarding the contract to Luxembourg-based Dorner Inc. for the sewer and water line work for the proposed developments in the TID#4 area. The contractor submitted the lowest bid at $2.6 million.
The village has a contract to provide sewer infrastructure for the southern portion of Caledonia Corporate Park and is negotiating with Ashely Capital to provide sewer and water infrastructure for the South Hills Commerce Center, a resolution states.
Ashley Capital owns 38 properties across the United States, including two properties in Racine County: the 138-acre Enterprise Business Park in Racine County and the 700,000-square-foot Yorkville Business Center in Sturtevant.
