Shorewood — Milwaukee-area developer General Capital has submitted plans for a two-level flagship Roundy's Metro Market and mixed-use residential building on the two block stretch along Oakland Avenue containing the former Walgreens and Harry W. Schwartz bookstore sites, as well as the Pick 'n' Save building.
The proposed construction plan is split into two phases. The first, slated for completion in fall 2015, would create an 80,000-square-foot Metro Market featuring produce, meat, seafood, baked goods and prepared gourmet meals, as well as other Roundy's signature departments, according to a village news release.
Phase two, tentatively planned to begin in fall 2015 and conclude in 2016, would build a mixed-use building composed of 80 upscale apartments and 15,000 square feet of retail space, according to the release.
The project, said nine-year Village Manager Chris Swartz, has been a topic of conversation during the whole of his time as manager and is now coming to fruition. A two-level grocery in the heart of the business district has been part of the village's master plan since 2006, he said.
"It's an exciting project for the community," Swartz said. "We're hoping the end product will be something that will be a centerpiece of our central business district."
According to Swartz, the village will likely create a new tax incremental financing district to help finance the re-development, which includes the razing of both the Walgreens and bookstore properties. Financing details likely will emerge when the village Community Development Authority takes up the proposal for early consideration at its upcoming April 7 meeting.
That meeting will be the first of a number of informal neighborhood informational sessions and formal public meetings, Swartz said. According to the release, General Capital intends to have the necessary approvals by July.
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