Simon Group signs intent to develop historic St. Coletta campus
Terms give the Brookfield-based Simon Group until early June to complete engineering, environmental and economic feasibility studies prior to closing.
“The sale is a major component of a planned transformation that has been underway for the past 10 years,” said Anthony LoDuca, St. Coletta president and CEO.
“St. Coletta is not closing!” LoDuca said.
“St. Coletta is very much alive, growing and leading our industry in the care and support of adults with (developmental disabilities),” he said.
The preliminary concept for Sanctuary Ridge calls for a 30-acre commerce center using the historic turn-of-the-century masonry buildings located on the campus. In addition, about 40 acres are planned for condominiums and 100 acres for single-family homes.
“The Simon Group looks forward to working with St. Coletta of Wisconsin and the city of Jefferson to create a prosperous mixed-use development in which people can live, work and be entertained,” said Scott Simon, president of Simon Group. “Our goal is to maintain the character and architectural integrity that St. Coletta embodies throughout the Sanctuary Ridge development.”
The Simon Group is seeking tenants and interested partners with the intent of completing the commercial section within four years, Simon adds.
Preliminary plans call for St. Coletta to eventually relocate its headquarters to adjacent property owned by the provider of community-based programs and services for adults with developmental disabilities. The sale involves just 174 of a total 650 acres currently held by St. Coletta in the Jefferson area.
St. Coletta of Wisconsin was founded in 1904 by the Sisters of St. Francis of Assisi–Milwaukee. It is one of the nation’s oldest organizations dedicated to championing for the rights of people with disabilities to be included in all aspects of life.
The St. Coletta campus is on Highway 18 and was annexed into the city of Jefferson in 2006. St. Coletta employs 441 and adds more than $15 million annually to the local economy.
“The Sanctuary Ridge project is perfect for our city,” Jefferson Mayor Gary Myers said. “I appreciate the way it protects our history while providing a contemporary magnet for businesses and residents who want to relocate in a community that offers so much quality of life.”
Last updated: 8:59 pm Thursday, December 13, 2012