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The Vision and the Plan
In 1977, a local business man with a vision acquired the 812 acre parcel that is now known as Oakwood Hills. Shortly after the purchase, Richard Larson entered into a partnership with Ayres Associates and formed Keystone Corporation for the purpose of completing and executing the Oakwood Hills Master Development Plan. The inventory of that entity continues to provide opportunities for businesses to locate in the hub of the Eau Claire regional trade area.
The Process and the Impact
Commonweal Development Corporation was retained in 1981 to provide professional development and brokerage services. Oakwood Mall, the key element of the Master Plan, opened to the public in 1986. Residential neighborhoods were created and commercial areas developed in well planned increments.
The impact of Oakwood Hills is evident. The retail trade area doubled with the opening of the mall and with growth in retail sales, the community experienced a corresponding increased demand for legal, accounting, medical and similar services. Nearly constant construction activity invigorated the local economy and hundreds of new, permanent jobs have been created. With virtually no public investment, the City of Eau Claire has been able to add over $100 million to the local tax base. And... we're not done yet!
Today, Commonweal Development continues to offer the same development, brokerage and property management services it was hired to do 29 years ago. Prime vacant land is still available for retail, office and residential purposes. Businesses preferring to lease space can find numerous options within the well managed and diverse improved property portfolio. Having a significant portfolio to work with allows us the flexibility to address changing needs of our business tenants. This is reflected in our retention rates, which are consistently high, and in our vacancy rates, which are consistently low.
We welcome your inquiry and hope that you or your business will soon become part of the Oakwood Hills success story.
Oakwood Hills 2007