A groundbreaking ceremony was held Tuesday to celebrate the start of construction for The Cornerstone, an apartment and retail development at Oakland Avenue and Kensington Boulevard in Shorewood.
The developer for the project is Milwaukee-based WiRED Properties.
The building will have 25 luxury apartments, 11,000 square feet of first floor retail space and 47 underground parking spaces.
Residents and retail tenants are expected to move into the building in the fall of 2010. The retail tenants will include an Alterra café, a women’s boutique, a restaurant and a wine bar/wine store. Only 1,200 square feet of retail space is available in the building.
“Construction of The Cornerstone is an exceptional opportunity to create an innovative development that brings together upscale apartment living and retail space under one roof,” said WiRED owner Blair Williams. “Our passion for community allows us to introduce a unique property at the northern gateway to Shorewood – truly a cornerstone of fine living and shopping.”
The 0.7-acre site was formerly occupied by a Mobil gas station, which closed in 2008. The gas station was demolished and the State Department of Commerce provided a $100,000 grant to remove contamination from the property.
