Google and SEO advice on similar domains

Hi!
I would like to dominate two ways of spelling a specific keyword in Google, for example, "The shoe" and "shoe". I intent to setup two domains, which shall be ranked minimum top 3 in the index, and I need some advice about how Google will act towards this situation:

..... This is a very simplified example:

I have two domains:
TheShoe.com
Shoe.com

On TheShoe.com I target the keyword "The Shoe" and Shoe.com => "Shoe"
Both websites will follow Google's guidelines with no duplicate content, basic good SEO description, title etc., but will be hosted on the same server and be owned by me officially in the whois.

Will Google "punish" me for this setup, so non of the websites will be listed when searching for either "shoe" or "the shoe"?

Thanks in advance.

NO! you wont be penalized for that.
Btw if you would have shoe.com - you could sell it for at least half a million

Yeah bud, you're definitely in the clear. Google isn't going to penalize you for targeting more than one keyword.