The Grafton Plan Commission will consider a proposal from a former Northwestern Mutual Life Insurance Co. executive to develop a 46-acre parcel of vacant land into a mixed-use development that could include more than 200 apartments and retail.
Anthony Polson of Blackcap Halcyon LLC., is proposing the development at the east side of Port Washington Road south of Cornerstone Church, according to plans submitted to the village.
The project, called the Merrion of Grafton, could bring ground next spring. It is expected to take three years to complete.
The original farmhouse on the property, Hennings House, would be preserved and converted to a restaurant and event venue, according to plans. There is also an existing house at 824 Port Washington Road that would be removed.
The proposed development includes 28 two-story rented town homes with attached garages in two and four-unit blocks. Four three-story apartment buildings with 44 units in each building. The buildings include underground parking, a club house, pool and exercise room.
“The Merrion of Grafton…will provide high-end living options targeted at millennials and baby boomers who are ‘renters by choice,'” Polston said. “The project address the need for high-end rental neighborhood options on the Port Washington Road corridor, offering amenities not currently available in Grafton.”
The project also includes four one-story commercial buildings ranging from 6,300 square feet to 12,800 square feet for a total of 34,100 square feet. Two of the buildings will share underground parking.
Polston founded Blackcap in May 2015, after serving as director of investment strategy at Northwestern Mutual and working in the company’s real estate division for several years.
