Jeramey Jannene
Eyes on Milwaukee

13 Developers Plan 753 Affordable Apartments

Developers request $10.6 million in tax credits to support 13 different projects.

By - Feb 7th, 2019 02:21 pm
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3600@Villard. Rendering by Korb + Associates Architects.

Villard Commons. Rendering by Korb + Associates Architects.

Thirteen developers applied for a combined $10.6 million in federal, low-income housing tax credits to build affordable housing in Milwaukee in 2019. The applications come as part of an annual, competitive process administered by the Wisconsin Housing and Economic Development Authority.

The credits are the most common tool used to create affordable housing in Wisconsin and require developers to set aside a pre-determined number of units at a discounted rate for those making no more than 60 percent of the area’s median income.

The developers, who range from big, for-profit firms to small, non-profit agencies, and their project partners can utilize the credits to offset dollar-for-dollar their tax liability. More often, the credits are sold to large institutions at an approximately 10 percent discount to their stated value. The proceeds from the sale create equity for the projects.

The Milwaukee proposals represent a quarter of the 54 statewide applicants, totaling $39.2 million in credit requests for 2,624 affordable units.

A number of the projects have been publicly disclosed already, while other developers have disclosed little public information.

Three of the projects involve redeveloping former Milwaukee Public Schools buildings into housing. Those redevelopment projects, the former 37th Street School by Heartland Housing, former McKinley School by Gorman & Co. and former Phillis Wheatley School by Royal Capital Group, required city approval for a purchase option on the buildings.

The city, through the Housing Authority of the City of Milwaukee (HACM), is applying to redevelop two of its existing properties, Becher Court (120 units) and Merrill Park (120 units). HACM has been a regular applicant in recent years as it seeks to redevelop many of its aging properties.

Other developers, including Rule Enterprises and Index Development Group, are proposing to buy city-owned land and develop new buildings on it.

In 2018, five Milwaukee projects were awarded new or additional credits out of eight applications. One of the projects that failed to secure credits, The Community within the Corridor project for Sherman Park, is included on the list of 2019 applications. The Villard Commons project, which won credits last year, is requesting additional credits in 2019.

Applications were due in mid-December. And while the official award announcement is expected later this spring, it often can take an additional year for projects to begin construction.

Project List

37th Street School Apartments

  • Developer: Heartland Housing – Community First
  • Units: 49 (Affordable: 43)
  • Type: Adaptive Reuse – Elderly
  • Credit Request: $775,687
  • Location: 1715 N. 37th St.
  • Learn More

Becher Court

  • Developer: Housing Authority of the City of Milwaukee
  • Units: 120 (Affordable: 100)
  • Type: Acquisition Rehab – Majority Elderly
  • Credit Request: $649,865
  • Location: 1802 W. Becher St.

Clark House

  • Developer: Sunny Side Development
  • Units: 64 (Affordable: 54)
  • Type: Acquisition Rehab – Single Room Occupancy
  • Credit Request: $262,975
  • Location: 933 N. 24th St.

Glendale Commons

  • Developer: Cardinal Capital Management – Index Development Group
  • Units: 55 (Affordable: 46)
  • Type: New Construction
  • Credit Request: $781,723
  • Location: 1500 W. Custer Ave.
  • Note: This project is listed by WHEDA as being located in Milwaukee, but appears to be proposed for a site in Glendale, across the street from Milwaukee. A representative of Cardinal Capital did not return a call by the time of publication.

McKinley School Apartments

  • Developer: Gorman & Company
  • Units: 35 (Affordable: 29)
  • Type: Adaptive Reuse – Family
  • Credit Request: $607,288
  • Location: 2001 W. Vliet St.
  • Learn More

Merrill Park

  • Developer: Housing Authority of the City of Milwaukee
  • Units: 120 (Affordable:100 )
  • Type: Acquisition Rehab – Majority Elderly
  • Credit Request: $899,840
  • Location: 222 N. 33rd St.

Olson Place

  • Developer: Woda Cooper
  • Units: 90 (Affordable: 81)
  • Type: New Construction – Family
  • Credit Request: $1,550,000
  • Location: 100 E. National Ave.
  • Learn More

Park Hill Family Apartments

  • Developer: Crown Court Properties
  • Units: 20 (Affordable: 19)
  • Type: New Construction – Family
  • Credit Request: $492,000
  • Location: 535 W. Concordia Ave.

Perlick Historic Lofts

  • Developer: Wisconsin Redevelopment
  • Units: 72 (Affordable: 58)
  • Type: Adaptive Reuse – Family
  • Credit Request: $1,021,943
  • Location: 3100 W. Meinecke Ave.

Phillis Wheatley School Redevelopment

  • Developer: Royal Capital Group
  • Units: 82 (Affordable: 67)
  • Type: New Construction – Adaptive Reuse – Family
  • Credit Request: $1,252,564
  • Location: 2442 N. 20th St.
  • Learn More

The Community Within the Corridor – Phase 1

  • Developer: Community within the Corridor LP
  • Units: 89 (Affordable: 74)
  • Type: New Construction – Family
  • Credit Request: $1,074,424
  • Location: 3212 W. Center St.
  • Learn More

Thirteen31 Apartments

  • Developer: Lutheran Social Services – Rule Enterprises
  • Units: 89 (Affordable: 74)
  • Type: New Construction
  • Credit Request: $1,173,094
  • Location: 1313-1331 W. National Ave.

Villard Commons

  • Developer: Brinshore Development – Index Development Group
  • Units: 43 (Affordable: 36)
  • Type: New Construction – Family
  • Credit Request: $95,900
  • Location:
  • Learn More

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