A nearly 140-year-old building in downtown Potosi, Wisconsin, is being prepared for a new commercial and residential future with assistance from a $225,910 state economic development grant.
The Wisconsin Economic Development Corporation announced the investment October 30, 2026.
The project will transform a deteriorating historic building into a mixed-use property featuring restaurant space, a coffee shop, additional commercial activity, and rental housing.
State officials identified the development as an opportunity to support small-business activity and downtown revitalization in Grant County.
Historic Building Will Be Restored
The property is located at 106 North Main Street in Potosi.
Originally constructed during the 1880s, the building has survived three fires and has deteriorated over time.
Local property owner Ray Schink is leading the redevelopment effort.
The project involves restoring the existing structure while adapting its interior for modern commercial and residential uses.
Preserving the building will allow the property to remain part of downtown Potosi rather than replacing it with entirely new construction.
The project is currently in its early stages.
New Commercial Space Planned
The redevelopment includes plans for a coffee shop on the ground floor.
Additional commercial space will accommodate Ace’s Pizza, a locally owned business operated by high school students.
The project also includes a planned basement speakeasy.
These businesses represent different types of commercial activity that could bring customers into the restored building.
However, the October 30 announcement does not identify individual opening dates, projected sales, or specific employment commitments for the businesses.
The commercial spaces remain part of the project’s planned redevelopment.
Rental Housing Included on Second Floor
The building’s second floor will contain two residential units.
One unit is planned for long-term rental housing.
The other will operate as a short-term rental.
The combination of commercial and residential uses is intended to make the property useful for multiple purposes.
Long-term housing can provide accommodations for residents, while short-term rentals may serve visitors seeking overnight lodging.
The announcement does not identify future rental rates or establish when the units will become available.
State Provides $225,910 Development Grant
The Wisconsin Economic Development Corporation is supporting the project through a $225,910 Community Development Investment Grant.
According to state officials, this is the first time Potosi has received a grant from the agency.
The funding is associated with the specific redevelopment at 106 North Main Street.
It is not an announcement of unrestricted grants available to every local business.
The agency’s Community Development Investment program supports qualifying redevelopment projects intended to strengthen Wisconsin communities.
Local Officials Hope Project Encourages Additional Investment
Village officials identified the redevelopment as a potential contribution to downtown improvement efforts.
Restoring an existing commercial building can provide additional space for businesses while addressing the appearance and condition of an aging property.
The project could also create opportunities for commercial activity associated with residents and visitors.
However, no specific increase in downtown sales, visitor spending, or employment has been established.
Those outcomes will depend on the project’s completion and the businesses that eventually occupy the property.
Completion Targeted for 2028
Schink has begun preliminary masonry restoration work, including tuckpointing.
He hopes to complete the redevelopment in 2028.
The announced timeline is a development target rather than a confirmed opening date.
Additional construction, interior improvements, and business preparations will be necessary before the building is fully operational.
For Potosi and Grant County, the project represents an investment in preserving a historic downtown property while creating space for locally operated businesses and additional housing.
