GRAND CHUTE — Fox Cities developer Tom Vandeyacht has purchased the 72-acre property known as the Schwalbach farm at the northeast corner of Lynndale Drive and Northland Avenue.
Vandeyacht, operating as Versatile Real Estate Ventures, paid $3 million for the property, according to records kept by the Wisconsin Department of Revenue. He intends to build apartments on the land, though not for at least five years while he focuses on Bridgewood Luxury Apartments, his multifamily development in Neenah.
The Schwalbach farm had been in Vandeyacht’s sight for the past four years.
“My plan is that it will be one beautiful apartment community with high-end apartments where people are moving out of their homes to move into the apartments,” Vandeyacht told The Post-Crescent.
The property is zoned single-family residential, so the Plan Commission, Town Board and neighbors to the north might have something to say when the time comes.
Mike Patza, Grand Chute’s director of community development, said that before anything is built on the property, there needs to be some community outreach and master planning done.