Landmark Credit Union's proposed new Brookfield headquarters site could eventually include a second building, according to plans submitted to city officials.
Landmark wants to develop a five-story, 158,000-square-foot office building at 555 S. Executive Drive. That site includes an older two-story office building that will be demolished to make way for the new development.
Construction is to begin by year's end if the project receives city approval, said Katie Monfre, Landmark's communications manager. The first building is to open by mid-2021, she said.
There is no time frame for the second building, Monfre said Monday. That project will be determined by Landmark's future growth, she said.
The Brookfield Common Council is to review the proposal at its Tuesday meeting. The proposal will then return to the Plan Commission for an additional review.
Those plans have since been refined, and now include a possible second future building. That five-story building would have 148,000 square feet.
The 19.5-acre Brookfield development site has the advantages of being centrally located in metro Milwaukee and close to I-94, according to the proposal submitted by Landmark.
Also, the site, just north of Deer Creek, has "capacity to accommodate future expansion," the proposal said.
About 300 employees will relocate from the New Berlin headquarters and other locations when the new Brookfield building opens.
The 83,300-square-foot building to be demolished is now home to Herzing University. Herzing is moving to the former Fresh Market grocery, 15895 W. Blue Mound Road, at Brookfield Square.
With assets of $3.9 billion, Landmark is the biggest credit union in the state and the third-largest financial institution in Wisconsin, trailing only Green Bay's Associated Bank and Racine's Johnson Bank.
Credit unions are like banks in many ways, but they are financial cooperatives owned by their members instead of shareholders.