Pre-3 Set to Break Ground on 84 unit “Market Rate” Apartments valued at $8,400,000 in Waterford
Waterford, WI – The Village announces the groundbreaking of The Cornerstone, an 84-unit apartment development east of 164, on Cornerstone Crossing. In his commitment to the Village of Waterford and his ongoing efforts to further stimulate growth, Village President Don Houston will host a gathering to celebrate the turn of the first sod as they bring the village’s plans to fruition. In collaboration with Real Estate Developer Pre-3 and Greenwoods State Bank, the Village of Waterford will discuss the project’s path and what the community can expect from the development.
About The Cornerstone
Comprised of 7 buildings, The Cornerstone will boast 84 open-concept, 2-bedroom / 2-bathroom, 1150-square foot units. These well-appointed units promise the ideal blend of luxury and convenience. Scheduled for completion in November 2020, the apartments will include comforts such as private entries, attached garages and individual furnaces. Stainless steel appliances, granite countertops and luxury vinyl tile (LVT) flooring are a few of the modern finishes that will complete these apartment homes.
About TID 3
The Village of Waterford has worked closely with Racine County Economic Development in recruiting new development into the Village. The Cornerstone Apartment project is the first groundbreaking to take place of 7 projects that have received Village approvals. The 7 approved projects represent a combined investment of $24,400,000 in the Village through TID 3. The projects are anticipated to produce approximately $10 million in revenues to the Village’s TID, balanced against TID expenditures to date of approximately $4.8 million.