"A $17 million mixed-use development featuring 131 apartments and up to 25,000 square feet of commercial space is planned for Grafton.
Mequon-based Shaffer Development LLC announced it's in the preliminary design stages for the project. It would be at a former lumber yard area in downtown Grafton and could include about $875,000 in village financing help.
The Grafton Community Development Authority voted unanimously Wednesday night to sell that 4-acre site at 1505 Wisconsin Ave., south of Beech St., to Shaffer for $1.
The proposed development's first phase would include a four-story, 41-unit apartment building along Beech St., owner Cindy Shaffer said Thursday.
Shaffer also plans to develop a building on Wisconsin Ave. with 10,000 square feet of street-level retail space and 18 apartments. It would have three to four stories, she said.
The second phase would feature 72 apartments and 10,000 to 15,000 square feet of commercial space."
"Also, Shaffer and the village are seeking state grants to help pay for the site's environmental cleanup. Shaffer is obtaining $2.5 million in equity from investors and hopes to break ground on the first phase by the end of summer."
Read the full article by Tom Daykin