Fox Point-based real estate development firm General Capital Group plans to build a mixed-use development along Oakland Avenue in Shorewood with an 80,000-square-foot Roundy’s Metro Market grocery store, 80 upscale apartments and 15,000 square feet of additional retail space.
The development is planned for two blocks on the west side of Oakland Avenue between Kenwood and Olive streets. It would replace the current Pick ‘n Save grocery store there and the vacant former Schwartz book store and Walgreens buildings.
The Metro Market store will be the first phase of the development and is expected to be complete in the fall of 2015. It will be a two-level grocery store and will be the flagship for Roundy’s Metro Market stores. Parking will be available for shoppers with 360 spaces on four levels.
The second phase of the project will be a mixed-use building with 80 upscale apartments and 15,000 square feet of retail space. Construction is expected to begin in the fall of 2015 and be complete in 2016.
Oakland Avenue in Shorewood has attracted several multi-story mixed-use developments in recent years, including Mandel Group’s LightHorse 4041 development, and WiRED Properties’ Ravenna and Cornerstone developments. All of those projects have apartments above first floor retail space.
“(General Capital Group’s) development is another example of Shorewood’s vibrant growth and ability to successfully blend its residential and commercial district landscape,” said Shorewood Village President Guy Johnson. “We are fortunate to have such an experienced team working together to make these plans a reality.”