CALEDONIA, WI-Legacy Development Co., which had planned the 320-acre, mixed-use Twelve Oaks development here, at a reported cost of almost $400 million, has dropped the project. A local group of investors bought the property from the Franksville-based firm for a reported $6.9 million, and has started working with the community to design a new plan.

The property is at Highway K and Highway V, about a mile from Interstate 94. Legacy’s plan was for about 700 single-family and multifamily homes, as well as 250,000 sf of non-residential space, likely office and retail (though the original 2006 plan had twice the commercial development sited). Legacy officials could not be reached for comment.

The new plan is a mystery, Caledonia officials tell The new investors met with the village to figure out ways of keeping the development going, and allowing the TIF set for the project to continue.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.