Senior Housing Proposed at Former Riverbrook Restaurant Site
Village officials announced Thursday senior housing could be erected in Shorewood under a proposal from a Chicago-area firm.
A senior housing development is being proposed at the site of the former Riverbrook Restaurant, village officials announced Thursday.
Illinois-based developer Pathway Senior Living LLC is proposing the assisted-living development which would house 56 seniors and include a memory care unit serving approximately 48 seniors with Alzheimer’s or other related-memory disorders.
Officials are set to discuss the proposal at the village's Community Development Authority meeting Friday morning at 7:30.
Pathway Senior Living operates 10 campuses including more than 1,200 units of assisted living and 600 units of senior apartments in both the Chicago area and Wisconsin.
The parcel at 1111 E. Capitol Dr. was recently purchased by commercial real estate firm Wangard Partners from Sunrise Senior Living Inc. for $1.5 million.
Sunrise proposed a $16 million senior housing development at the site in 2008, but scraped the plans after the recession hit. The building laid vacant until Shorewood fronted about $60,000 to raze the old building last summer with the agreement that Sunrise would reimburse the village through a special assessment on its tax bill.
Village Manager Chris Swartz said previously Sunrise paid Shorewood back the $60,000 as part of closing the deal with Wangard.
Three developers were reportedly interested in developments including apartments, retail shops or senior housing for the site. Village officials have said they would like to see senior living along East Capitol Drive, and save the back portion for more profitable housing when the market improves.
The site also was the former home of the popular Pig 'n Whistle, until it became Riverbrook Restaurant in 1992.
Two other developments are being currently being erected on North Oakland Avenue, both of which are mixed-use retail and apartment structures.