The Highway 50 corridor as it extends from Bristol through Paddock Lake is poised for growth.
Hwy 50 corridor in Paddock Lake poised for growth
A Kwik Trip, Culver’s, Scooter’s Coffee, Dunkin’ donut shop and another assisted living center are on the horizon in Paddock Lake. And, a clothing retailer – which would be the first west of I-94 in Kenosha County — has reportedly been rooting around for a site.
“There is a possibility that a big box may site either here in Paddock Lake or just south of us in Salem Lakes,” said Paddock Lake Administrator Tim Popanda. “We’re happy that business is attracted to Paddock Lake. It improves the quality of life for our residents. That is the whole goal here.”
Development will also increase the tax base. It is anticipated the projects already underway or set to begin in 2022 will increase the value of Paddock Lake by $10 to $12 million. Popanda said the resulting increase in sanitary sewer and municipal water users will also help decrease fees for existing residents.
Likewise, a big box retailer with an emphasis on rural living needs, is reportedly looking at land in Bristol.
“The retail follows the rooftops,” said S.R. Mills, chief executive officer of Bear Real Estate Group (BREG).
BREG has been the major player in development of the Highway 50 corridor. In 2022, it will build on the successful completion of the first phase of the Whitetail Ridge mixed-use neighborhood at highways 50 and F, which added 50 senior apartment homes, 10 townhomes and 27 single-family homes to Paddock Lake.
“The project is fully leased and filled a significant need for senior and workforce housing,” said Mills. “The development of Whitetail Ridge was an important catalyst for the extension of public water main which has provided for further economic development opportunities for the Village of Paddock Lake.”
The rental units are fully leased and all the single-family lots sold within a two-year time period.
“The pace of sales and construction confirmed the need and demand for new single family homes in western Kenosha County,” Mills said. “The average sales price for new homes in Whitetail Ridge exceeded $425,000.”
Read more at the Kenosha News.