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October 5, 2026
APPLETON – As part of the Wilden Portfolio Park development, Thrivent recently broke ground on its new building aimed at supporting the financial company’s nearly 1,400 Appleton-area employees.
Terry Rasmussen, president and CEO at Thrivent, said the construction of the new building is the first visible phase of the company’s long-term investment in Appleton and the broader infrastructure for the Wilden Portfolio Park development.
She said the building is being designed with spaces for collaboration, connection and focused work that reflect today’s mix of remote, hybrid and on-site work.
“The new building shows Thrivent’s continued investment in its employees, the Appleton community and commitment to the broader Fox Valley,” she said. “This new building comes after years of planning and collaboration. This is a special day for Thrivent and the City of Appleton.”
Rasmussen said Thrivent has been a part of Appleton’s story for more than 120 years, with community-based generosity playing an important part of the company’s history.
“Giving back has always been core to who we are,” she said. “In 2025, Thrivent invested more than $1 million in nonprofit partners, sponsorships and community projects across the region. Today’s groundbreaking builds on that legacy.”
Over time, Rasmussen said Wilden Park will create new opportunities for people to live, work and connect, helping shape a vibrant future for this part of Appleton.
For many years, she said the Ballard Operations Center had been an important part of Thrivent’s history and a mainstay in the community, taking its name from the road it calls home.
The new building, Rasmussen said, is an opportunity to create a new chapter in Thrivent’s history.
“As we move forward, we wanted to give the new building an address that shows where we came from and where we’re going,” she said. “I’m excited to share the new building will be called the Evergreen Operations Center, located at 1505 E. Evergreen Drive.”
Rasmussen said the name reflects its location, while the address carries a meaningful connection to Thrivent’s history.
“The final three digits – 505 – bring together two numbers at the heart of our founding story,” she said. “In 1902, 500 people each contributed $5 to help establish Aid Association for Lutherans (AAL). Together, these individuals created something that would endure for generations.”
AAL provided insurance and financial support to Lutherans and later merged with Lutheran Brotherhood in 2002 to form Thrivent.
Staying financially responsible
David Royal, chief financial and investment officer at Thrivent, said he spends a lot of time thinking about how the company allocates its resources, makes investments and positions the company for long-term success.
He said what started with those 500 people investing $5 each has grown into a company now managing more than $225 billion in assets.
“As a membership-owned organization, we have a commitment to allocate our resources wisely on behalf of those we serve,” he said. “This responsible stewardship is one of our core responsibilities at Thrivent. We take a disciplined approach to every investment we make – I can assure you of that.”
Growing up in Madison but with his grandparents living in Marinette, Royal said he has long known the history of Thrivent’s Ballard Operations Center, which is why the new building holds special meaning to him.
“We’d be driving to Marinette, and my dad would always point out, ‘There’s AAL,’” he said. “I would have been five years old when this building was built. It’s wonderful to know that my grandchildren will be able to see a building of Thrivent’s along Highway 41.”
Wilden Portfolio Park development
As previously mentioned, Thrivent’s new building is simply one part of the larger Wilden Portfolio Park development.
According to the development’s website (wildenportfoliopark.com), the almost 600 acres will be developed over time and will integrate residential, recreational, retail, employment and entertainment.
This collection of diverse housing options, accessible public amenities and considered commercial concepts has been tailored to inspire local community-building and widespread growth through Wilden’s restorative placemaking.
A comprehensive construction impact analysis found that the Wilden Park project will add an estimated $108.9 million annually to the local economy and will create 7,270 temporary jobs through construction.
Based on industry patterns in the area, it is estimated that employment at and use of the development will result in the expenditure of approximately $135.2 million in disposable income annually.
With work on Thrivent’s new office building commencing, the website further states that by fall 2027, there will be a “substantial completion of construction on the critical infrastructure” of the Wilden Park project.
By winter 2027, construction on retail and residential housing will commence, with Thrivent’s new building projected to open in spring 2028.
Eric Merriman, director of real estate, workplace and facilities at Thrivent, said the development will have 250 acres of mixed-use development, with parks, trails and community spaces being part of that.
“Most importantly, when the development is fully completed, 2,200 families will call Wilden their home,” he said. “It’s a vision made possible by the partnership of many organizations.”
Merriman said Thrivent’s new office building will be four stories and encompass 155,000 square feet.
Evergreen Operations Center, he said, was designed by EUA and construction will be managed by Miron Construction.
Before Thrivent can occupy its new building and retail and housing can be built, Merriman said the development needs roads, traffic controls, stormwater facilities and utilities.
“This first phase lays that foundation,” he said. “This will lay the groundwork for an estimated $1.1 billion in construction impact on the site.”
Mayoral, Congressional support
At the recent ceremony, Appleton Mayor Jake Woodford said if Thrivent was simply breaking ground on a new building, that would be “momentous in itself.”
The fact that the groundbreaking also signifies the beginning phase of Wilden Park, he said Thrivent’s commitment makes up only one component of the project.
“I don’t think the immensity of this project can be overstated; it’s an extremely complex project,” he said. “I appreciate that Thrivent has been forward-thinking about the bigger picture, not only for their organization but for the broader community.”
Woodford – who was elected mayor in April 2020 and reelected in 2024 – said nobody within the city has “probably ever worked on a project of this scale.”
“We may never work on something of this scale ever again in our careers,” he said.
Also in attendance at the groundbreaking was Wisconsin’s 8th Congressional District U.S. Representative, Tony Wied, who said it’s great to see a project of this stature come together, mixing public and private support.
He said many different partners from varying sectors are “pulling in the same direction” to make this happen.
“It’s remarkable how big the grounds are,” Wied said. “It’s an amazing achievement, and there is no question about Thrivent’s commitment to the community. Investments like this – not only from Thrivent – show the rest of the country that Appleton is open for business. It’s a place where businesses can come, build, invest and thrive. This entire project will lift up the entire city.”
