JSOnline is reporting that the Sunrise Senior Living development that was planning at the Went End of Capitol Dr. has been cancelled. Below is the full press release from the Village.
Press Release – Sunrise Development
November
14, 2008 - Sunrise Senior Living is not exercising their
option to proceed with their planned assisted living development in
Shorewood.
They were to have constructed and operated an 83-unit
facility at the Capitol Drive site previously occupied by the Riverbrook
Restaurant and Sherburn Place Apartments.
A company official cited current economic conditions –
specifically, the inability to obtain capital -
as the reason for their decision.
They indicated that they have canceled other similar projects.
Sunrise had previously acquired the land and associated
zoning needed for this development, and indicated that they are currently
attempting to find a purchaser.
