What's Next on the Development List in Shorewood?

Village officials targeting former Catholic Family Life Insurance office building for new development opportunities, among other sites.

With two developments either under or soon-to-be under construction, village officials are shifting their focus on other potential development sites in Shorewood.

The office building at 1572 E. Capitol Dr., which formerly housed Catholic Family Life Insurance, has been targeted as a site for new development opportunity.

Catholic Knights left the building vacant after moving to a new home in downtown Milwaukee.

Shorewood Community Development Authority Chairperson Pete Petrie said there is currently a Realtor trying to fill the vacancy, but he and other officials are looking long term and at possible development.

However, Petrie said officials don't have anything solid in mind for the building.

Shorewood is also looking at the parking lot near the intersection of North Oakland Avenue and East Edgewood Avenue, just south of , as an area for development. However, the site was given to the village through an agreement with the state Department of Natural Resources, and officials would need state approval before moving forward with a private development.

Village Manager Chris Swartz said the village also is looking for a place to develop some senior housing.

“We don’t have anything in Shorewood relatively affordable for seniors and something with a building manager on site,” Swartz said. “It’s been a goal of the CDA and Elders Services to find something and get a development for seniors.”

Other development sites being targeted by Shorewood includes ; the parking lot next to the tanning salon , 2420 E. Capitol Dr.; Wells Fargo drive-thru at 1530 E. Capitol Dr.; and .

Officials have said before 4145 N. Oakland Ave., and Swartz said Friday they meet with the large grocery retailer frequently.

“For the last five to seven years, we’ve met with them on a regular basis,” Swartz said of Roundy’s officials. "Sometimes, we just call and say 'What's happening?' and they come over and we talk."

Milwaukee development WiRED Properties has already broken ground on its on Oakland Avenue. The Ravenna, being erected in the vacant lot at 4533 N. Oakland Ave. across from the recently erected , includes 22 apartments, underground parking and 7,500 feet of retail space for .

Right down the street, Mandel Group, another local developer, is expected to , with 84 apartments, underground parking with a parking structure and retail space for Walgreens, in the Sendik's parking lot, 4027 N. Oakland Ave.

Absolutelyfabulous February 07, 2012 at 01:10 AM
Why aren't Village residents included in the "frequent" talks w/ Roundys? The parking lot next to Sunseekers is owned by Shoreline or whatever they are called now since the split. They bought what was formerly a shade shop for ~$375,000 (N. E. corner of Prospect / Capitol) which had been converted from a gas station. Tore it down and resurfaced and striped out the parking spots that were created. Now, the reason they purchased this was because they needed the parking for their multi story apt building across the street that they purchased some time, though not long, before. Why? Because Shorewood doesn't or didn't allow parking on the streets at night and it is quite expensive to call in nightly and the only other option would be for people to line up in the que to vie for spaces blocks away in the Atwater parking lot. SO, why would Shoreline rob from Peter to pay Paul so to speak unless they are working out some deal w/ Shorewood for all night street parking 24/7 in exchange for redeveloping the lot that is now a surface parking lot that is necessary for them to fill up their property on Prospect/Capitol and charge as much as they can + parking (which helps them greatly). Don't hold your breaths on being involved in any preliminary discussions on these sites. Love to be a fly on the wall seeing all the behind the door meetings/deals cut w/ preferred developers w/ all the incentives/grants. How many more TIF districts will the village create?
Absolutelyfabulous February 07, 2012 at 01:25 AM
Also, Shoreline or whatever branch of Shoreline owns that parking lot next to Sunseekers is not a developer. Or from my knowledge they have never built. They buy, so it would be interesting to see if they undertake re-developing the site, or sell off the lot and have someone else do it or do what was done on the Cornerstone and just employ the services of a developer w/ ties and history to Shorewood who has an inside track ie Wired Properties and have them act as General Contractor and handle all build out and get their fee and walk away...Time will tell. Hot location especially since they will probably get a variance and go up, up, up and no one or nothing will ever block their view east towards the lake unless they tear down Sunseekers and it makes sense to re-develop or better yet buy it out and combine the 2 parcels for one big development. That latter part may seem a bit far fetched, but no one has ever been told what Dan Katz was paid for his parking lot behind Sendiks and the attorney working for the Village on this deal mentioned the "high" acquisition costs involved in that deal ie Mandel's new $35,000,000 development that will have an estimated property tax value of ~22,000,000 a good 25 years down the road. Ie someone made a killing and I don't put it past any of the decision makers in Shorewood to throw as much $$ as they can to make a development happen. They just create another TIF and get cagey w/ financing terms/grants/payback times. Can't wait.


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