[1.6.2026] Cobalt acquires site for youth sports complex in Brown Deer, but has ‘gap to work through’ as estimated project costs climb (BizTimes)
- jstefan9
- 6 days ago
- 2 min read
Updated: 1 hour ago
Milwaukee-based Cobalt Partners has closed on the purchase of a 16-acre site in the Village of Brown Deer where it plans to build a youth sports complex, with the development firm now focusing on closing financing gaps.
The firm purchased the property, located along North Arbon Drive just south of Brown Deer Road, for $3.2 million from an affiliate of Milwaukee-based developer Royal Capital Group, according to state property records. The purchase was supported by a $2.5 million loan from the village.
Late last year, the Village of Brown Deer funded a market study for the site, while Cobalt completed a separate feasibility study. According to Cobalt CEO Scott Yauck, both studies point to strong demand for the proposed development.
Cobalt has completed initial programming and a conceptual design for the project. Early estimates placed total project costs at about $50 million. However, village documents show updated estimates ranging from $80 million to $120 million after further design and programming work.
The project is now moving into a detailed design phase, with the developer evaluating several financing options. These include potential tax incremental financing from the village, value engineering to reduce costs, sponsorship or naming rights agreements, and phasing the project over time.
Plans call for one or two main buildings housing indoor sports facilities, including two ice hockey rinks and eight basketball courts that could be converted into 16 volleyball courts. Cobalt is also exploring additional uses such as restaurant space, a hotel or other small-scale retail.
“The demand is there, the users are there and the willingness is there from the municipality, but we still have a gap to work through on the economics,” Yauck said.
The Brown Deer proposal is moving forward alongside another youth sports complex planned for Big Bend in southern Waukesha County, which would focus primarily on outdoor sports such as baseball, softball, lacrosse and soccer.
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