Three Leaf Partners unveil 220-unit multifamily project in Oconomowoc

Milwaukee-based Three Leaf Partners submitted plans for 220 apartments on the corner of County Highways P and K in Oconomowoc.

The project calls for 11 buildings with 20 units each, made up of one-, two- and three-bedroom units, developer plans showed. The proposal comes with shared green space, a 6,000-square-foot clubhouse and pool, walking paths, a dog run and two stormwater ponds.

Developers are working with the principals of Prairie Creek Ridge LLC, who own the parcel where Three Leaf wants to build. Southwest of the site, Mike Kaerek of Kaerek Homes and Mike Bickler of Stonewood Companies are building subdivisions.

Three Leaf requested the city to rezone the site from commercial to residential multi-unit, records showed. The city wants to redevelop the former farmland and initially designated it for commercial use.

“A crucial factor in this decision is the ample availability of commercially zoned properties in the immediate vicinity,” the developers said in their proposal. “The existing commercial infrastructure in other areas of Oconomowoc / Lake County has largely fulfilled the demand for such spaces, rendering a shift in zoning to meet the pressing need for housing,” they added.

The developers said the region is experiencing a “noticeable and sustained demand” for multi-family housing that would take 400 units annually to keep up, beyond the demand for commercial properties.

The City of Oconomowoc Plan Commission on Wednesday will meet and decide whether to approve rezoning. Planning staff recommended rezoning between 16 and 20 acres for the project.

Three Leaf Partners is led by two principals: Bucks guard Pat Connaughton and Matt Burow, CEO of Catalyst Construction. The firm worked with Wauwatosa-based AG Architecture to create project designs.