Construction is set to begin on the Berkshire-Greendale, a 90 unit senior housing complex that will be developed by General Capital Group.
“Our Village leaders have been exploring and developing various options for energizing and revitalizing the 76th Street commercial area and we have been encouraged by the feedback within our community,” said Village of Greendale President John Hermes. “This housing component is one of many recent efforts to enhance the corridor and drive additional growth and development in the surrounding area.”
Located in Greendale, WI, the project will utilize the Village of Greendale’s first tax-incremental financing (TIF) district to construct the residential component of the project, which includes an independent living senior housing complex, with units ranging in area of 740 to 1250 square feet per unit, with average values estimated at $60,000.
The commercial component of the TIF consists of additional commercial buildings and parking on remaining available district land. The project is expected to be completed in early 2012.