First steps toward Shorewood Condos
November 24, 2008 · Updated 4:11 PM
The Planning Commission will host a public hearing regarding the requested subdivision for adding new condos at the Shorewood Heights Apartment complex.
The meeting will take place at 7:30 p.m. July 18 in City Hall. The Planning Commission will be seeking public comments on the proposal to determine if city planners should grant the subdivision or the City Council.
Under city code, proposed subdivisions of land on more than four acres, called long subdivisions, are reviewed by the City Council. Short subdivisions on land less than four acres are determined by city planners. The owners of the Shorewood complex are asking for a variance from the Planning Commission to designate the proposal as a short subdivision so city planners are able to approve the subdivision instead of the Council.
The subdivisions under review by the commission are needed to create the separate, individual plats that can be sold for the condos.
The hearing is not to discuss the proposed condominiums or townhomes. The Design Commission will review those designs at a later hearing.
In May, the company that owns the Shorewood apartments announced its plans to construct approximately 120 new condos and town homes on the 44.5-acre campus on the northeast side of the Island.
The plans for the new structures are still in the design phase, but Security Properties plans to propose about 114 condominiums in new three-story buildings and 10 side-by-side, two-story townhomes.
Shorewood Heights was originally built in 1949 and new structures were added in 2001. It currently has 646 apartments in 40 separate buildings, according to county records. Security Properties purchased the compound in 2005 for $114.25 million.
Security Properties owns more than 20,000 apartments in 35 states.