All content, of both the original and this blog, is written from my point of view and is my opinion. I believe it to be accurate at the time it is written. ~ Kyle Prast, Brookfield resident since 1986

Wednesday, March 31, 2010

VK's Field of (broken) Dreams for sale, just $3M!

This 28 acre cornfield, at the intersection of Lisbon and Pilgrim Roads, was to have become Lisbon Heights, a VK subdivision.

Today, it remains home to cornstalks, wildlife, and as of 3 weeks ago, a For Sale sign.

Just in case you are interested in purchasing, here is the listing and tax info.

It looks like VK Development Corp. purchased the property in 2000, and in 2003, it was listed under VK Lisbon LLC. The Lisbon Heights subdivision announcement came in September of 2007.

To refresh your memory, the handwriting was already on the wall concerning single family, luxury housing in 2007, because the Business Journal began its article with, "The soft, single-family, luxury home market isn't deterring VK Development Corp. from building a $15 million residential development in Brookfield."

Who could have predicted back in the early to mid 2000s, when VK was riding high, that in March of 2010, VK Development would be in the economic hot seat today? But within a week's time we heard about VK losing Percheron Square, 12 condo units in Capitol Heights, and possible trouble with his unfinished mansion on the north side of Brookfield.

I know there are those who might take delight in someone else's woes, especially if that someone is VK, but I don't. True, VK's Capitol Heights was a sore spot with those in the 2nd district. But can we blame the extra density of Capitol Heights entirely on VK Development? Doesn't Mayor Speaker and those aldermen who approved that extra density on the Common Council bear some responsibility too?

Percheron Square was allowed extra density with nary a fight from the Plan Commission or the Council.

VK's troubles are a sign of the bad economic times and the precarious house of cards nature of big development. Percheron Square falling though and Lisbon Heights fizzling out also mean that local builders and construction workers have no work, and in that, I take no joy.

More Reading: Developer Kuttemperoor transfers condo ownership to M&I bank
VK gives Brookfield site to bank
Undone dream house gets wake-up call
Percheron Square: Again, Density is the Problem

Links: Practically Speaking, Betterbrookfield, RandyMelchert, Jay Weber, Vicki McKenna, The Right View Wisconsin, CNS News, Mark Levin, Breitbart BigGovernment, The Heritage Foundation

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