Past Redevelopment Efforts for the River District

Shorewood began facilitating the districts redevelopment in 2008 with the creation of Tax Incremental District #3, providing for future site remediation funds and other development incentives. Then in Winter 2010, the village hired a team of real estate professionals and market analysts to conduct a suitability study for the Milwaukee River Site.

The primary goal of the study was to clearly define the objectives and requirements for the redevelopment, by performing a market analysis, and by creating associated high level physical plans and specifications in order to help potential developers quickly and easily ascertain interest in undertaking such a development. While it is expected that any prospective developer would insist on at least vetting the provided market analysis and modifying suggested physical aspects of the development, the village hopes to streamline the work any developer would need to accomplish in order to decide to begin negotiations with the 2 property owners of the 3 parcels for purchase and with the village for required zoning and financial support.

Since 2007 there have several interested developers for the site, mainly assisted living use. Take a look at the many proposals, studies and stakeholder input.
 
In December 2015, Harbor Chase assisted living and memory care opened its doors and 100 independent senior apartments started construction spring 2017 behind Harbor Chase, developed by Sherman Associates.