A first planned apartment/retail building in the Lumberyard 1505 redevelopment gained a recommendation from Grafton’s Plan Commission on Tuesday.
The project at Wisconsin Avenue and Beech Street is the first of an envisioned three buildings on a 4.7-acre property. The village and Mequon-based Shaffer Development LLC have teamed to redevelop land at Wisconsin Avenue and Beech Street.
Construction could begin this fall on the first phase, which features a building standing three and four stories tall, with 72 apartments and first-floor spaces for four retailers. Apartments could open in summer 2016, with rents ranging from $895 for micro apartments to $1,685 for three-bedroom units.
Shaffer Development is hoping to attract a financial institution, coffee shop, hair salon and restaurant for those spaces, but no leases have been signed, according to a June 16 village report.
That building gained Grafton Plan Commission approval Tuesday, and will go to the Village Board for consideration in July.
A second phase could bring a second apartment building with 54 units and a stand-alone, 3,640- square-foot retail building on Wisconsin Avenue.
Read source article by Sean Ryan here