WEDC will support the project with a $225,910 Community Development Investment Grant
MADISON, WI. OCT. 30, 2026 – Some buildings are more than brick and mortar. They’re part of a community’s identity.
For Ray Schink, restoring a nearly 140-year-old building in downtown Potosi is about preserving a piece of his hometown’s history while creating new opportunities for its future.
Built in the 1880s, the building at 106 N. Main St., Potosi, has survived three fires and now sits in disrepair.
“We don’t build buildings like this anymore,” Schink said. “And you can’t from a cost standpoint. It just doesn’t make sense. But this is such a cool building.”
The Wisconsin Economic Development Corporation (WEDC) is supporting the project with a $225,910 Community Development Investment Grant. This is the first time Potosi has received a grant from WEDC, the state’s leading economic development organization.
“It’s great to hear about the plans to bring this historic building in Potosi back to life,” said WEDC Deputy Secretary Sam Rikkers, who visited the project site on Friday. “Finding new uses for old buildings is a fantastic way to meet a community’s needs and helps create thriving places where people want to live, work, and visit.”
The project will transform the building into a mixed-use development that includes one long-term rental housing unit and a short-term rental unit on the second floor. It will also include a coffee shop and space for Ace’s Pizza, a locally owned business operated by high school students on the ground floor, and a speakeasy in the basement.
The project aims to bring more people to downtown Potosi, provide opportunities for employment, and increase housing options. Village officials also hope it will act as a catalyst for future development downtown.
“It’s exciting to see new life being put back into the building,” said Potosi Village President Mick Whitaker. “If he can renew this building, it will look nice and hopefully draw more people to our downtown.”
Schink is in beginning stages of tuckpointing the building and he hopes to have the project complete in 2028.
“Potosi has a lot of pride, and a lot of history worth preserving,” Schink said. “I grew up here, and now I’m raising my kids here. I want to make sure there’s something left for their generation to be proud of, too.”
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