SHOREWOOD CDA ADVANCES NORTHWOODS RENOVATION AND RIVER BLUFF SENIOR HOUSING PROJECTS

March 7, 2014

Shorewood’s Community Development Authority (CDA) met last Friday to review and advance two key development projects for the Village including a renovation and a new construction.

The Shorewood CDA approved the project concept for a $400,000 loan for Northwoods Software Development, Inc. to purchase and renovate the building, located at 1572 East Capitol Dr., which it has been leasing for the past nine months. Renovations would include upgrades to the building’s infrastructure including its heating and cooling systems and boilers. Final approval is required from the CDA, the Shorewood Village Board (which will provide $200,000 of the loan) and Wisconsin Economic Development Corp (which will provide the other $200,000 of the loan) to help pay for renovations. Northwoods currently has 32 employees and the company is expected to grow over the next few years.

ACTIVE SENIOR APARTMENTS PLANNED ALONG MILWAUKEE RIVER

Sherman Associates, Inc., an award-winning development and property management firm, reviewed site plans with Shorewood CDA for an active senior residences construction project located along the banks of the scenic Milwaukee River in Shorewood. Located over four acres at 3900 N. Sherburn Place, it includes an industrial building that once housed Milwaukee PC, which would be razed. This new property is south of a proposed 90-unit assisted living facility located off of East Capitol Drive.

Plans for the active senior residences include a four-story complex with 100 one and two-bedroom apartments featuring a wide range of upscale amenities including stainless steel appliances and granite countertops as well as private patio or balconies, some units with views of the Milwaukee River. Other building amenities will include a yoga studio, sauna, spa and indoor pool as well as a library, theater room and business center. The CDA advanced the project to the Village Plan Commission for approvals and possible zoning amendments.

“We’re pleased to support these types of business and residential developments which promise to add to the vitality and long-term growth of the Village,” said Chris Swartz, Village Manager.

The Shorewood Community Development Authority (CDA) was formed to strengthen the long-term economic viability of the Village; eliminating substandard and obsolete buildings, environmental deficiencies, and nonconforming uses; and providing for orderly physical and economic growth.

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