Silverstone Partners Inc. will receive a $409,500 Blight Elimination and Brownfield Redevelopment (BEBR) grant from the Wisconsin Department of Commerce to help it redevelop an unoccupied and underutilized property in Kenosha County. Silverstone Partners plans to construct a four-story apartment building containing 89 units on a one-acre parcel located at the intersection of Seventh Avenue and 51st Place in Kenosha.
The company will use the BEBR funds to address soil contamination on the site, which was formerly occupied by a tannery. An estimated 80 of the 89 living units will be priced as affordable housing targeted for seniors. The total project cost is $8.5 million. "Brownfield grants help renew damaged or vacant land and provide communities with opportunities for additional reinvestment," said Wisconsin Gov. Jim Doyle. "I’m pleased that we could help Silverstone Partners Inc. improve the local supply of rental units, particularly for senior citizens."
The Department of Commerce BEBR Program provides grant funds to municipalities, local development corporations, and the private sector to support assessment, remediation and return of contaminated lands to productive use. Brownfields are abandoned, idle, or underused industrial or commercial properties where redevelopment is hindered by real or perceived contamination.