Shaffer Development began in 2001 by purchasing duplexes in the city of Cedarburg with no money down. Shaffer renovated these run down rental properties and converted them to individual condominium units.
This outcome was beneficial to all concerned by increasing the tax base for the city of Cedarburg, and providing a needed source of housing in a moderate price point for owners. The positive cash flow allowed the acquisition of over five properties and provided the equity to invest in larger development projects.
Cedarburg Mixed Use
Shaffer Development purchased and secured all entitlements for this abandoned gas station on Lincoln and Washington Streets in downtown Cedarburg. Shaffer purchased the property from Lakeside Oil and had all remediation completed with grants from the DNR.
Shaffer secured approval to build a mixed use building with 10,000 square feet of commercial space and five residential units above. Shaffer sold the project prior to construction and the new owner removed the residential units and replaced them with office space.
Mequon Town Center
The Mequon Town Center is a revolutionary mixed-use development on three acres in the center of the City of Mequon. Shaffer Development partnered with Wired Properties to complete this project. This was the first new mixed use development and the first new multifamily development in over 20 years in Mequon. This project involved creating a new zoning code, a public private partnership involving a city loan, and shared parking.
The project involved a creative land swap with an American Legion Post and a re-use of a gas station. The $19 million Mequon Town Center project consists of 5 buildings, underground parking, 36,000 square fee of commercial space and 28 luxury apartments.
Grafton Lumberyard 1505
Lumberyard 1505 will be an exciting mixed-use residential community in the heart of the Grafton Village Center with walking and bike access to restaurants, coffee shops, services, parks along the Milwaukee River, and the Interurban bike path.
Featuring seventy-two unique apartment homes, Lumberyard 1505 will offer a variety of micro, one, two, and three bedroom homes with heated underground parking. All residents will enjoy access to a rooftop club room, fitness center, and deck with panoramic views.
Additionally, each apartment home at Lumberyard 1505 will have a separate heating and air conditioning system, a high design kitchen and bathroom, upgraded finishes, in-home washer and dryer hook ups, and a private balcony. Storage rooms with bike racks will also be available throughout the building.
Monthly housing costs at Lumberyard 1505 will range from $895 for a trendy micro apartment to $1,685 for a spacious three-bedroom apartment home.
Construction is scheduled to start in the spring of 2016 with apartment homes ready for leasing in the summer of 2017.