Share this page on facebook
Lumberyard apartments are now open for residents PDF Print E-mail
Written by JOE POIRIER   
Wednesday, 07 June 2017 17:07

Village officials say property will be catalyst for downtown Grafton

    The 1505 Apartments opened its doors to residents last week at the former lumberyard site, and village officials say the development will attract more residential and commercial growth for downtown Grafton.
    About half of the 77 apartments, located on the corner of Beech Street and Wisconsin Avenue, became available on June 1, while the rest of the units will be ready for occupancy by July 1.
    “We had about a dozen people move in on June 1. Overall, we’re about 30% leased and our goal is to be 95% occupied by August,” Property Supervisor Ria Blake said. “We’re excited to be part of the Grafton community and we’re looking forward to being here for a long time.”
    The monthly rent ranges from $950 for a studio to $2,000 for a three-bedroom apartment, according to Blake.
    The apartments have walk-in closets, stainless steel kitchen appliances and granite countertops. Other amenities for residents include a rooftop deck, community room, fitness studio, and a dog-wash station and storage units in the underground parking garage.
    Village Administrator Jesse Thyes has high hopes for the development.
    “The village wanted to revitalize a longstanding, underutilized and blighted space to give some more life to the downtown area with a mixed-use of commercial and residential property,” he said. “In essence, it will hopefully act as a catalyst for the rest of downtown and the commercial corridor.”
    The four-story building also has 10,700 square feet of retail space. Village Director of Planning and Development Jessica Wolff said the use of retail space will be determined in September when the construction is complete. The space could be potentially used as a dry cleaner, hair salon, coffee shop and restaurant.  
    Construction will start by the end of summer on a second building with more than 40 apartments, which will be completed by spring 2018.
    The village has developed a public plaza next to the apartment building to encourage more pedestrian traffic. The plaza will have its ribbon-cutting ceremony Tuesday, June 13. The event will include tours of the 1505 Apartments.
    “The Village of Grafton wanted to create a nice front yard for the lumberyard development,” Thyes said. “It’s going to be a gathering space that will be an excellent amenity for the nearby residential and commercial uses.”
    Shaffer Development constructed the 1505 Apartments and Fiduciary Real Estate Development Inc. manages the property.

Comments (0)Add Comment

Write comment
You must be logged in to post a comment. Please register if you do not have an account yet.