Finally a Deal on 2 Walker’s Point Apartment Developments

Proposed 4th and Florida Apartments. Rendering by Korb + Associates Architects.

The Department of City Development (DCD) and the leading critic of its housing subsidy policies have reached a deal. In fact, they have reached two deals.

DCD is proposing to subsidize two long-proposed Walker’s Point apartment buildings by New Land Enterprises.

Two tax incremental financing (TIF) districts would be created to provide a total of $6.7 million in exchange for New Land leasing 150 new apartments at “workforce housing” rates affordable for those making 80%, 90% and 100% of the area median income.

The agreement comes after a three-way fight in April 2025 in which Tim Gokhman, New Land managing director, and Common Council President José G. Pérez publicly pushed DCD to adopt a formal housing subsidy policy in the wake of rising interest rates and construction costs slowing development. DCD released a policy, although Gokhman and others pushed the city to create a formal program instead of guidelines.

Now all three sides are expressing approval.

“Our goal is to grow Milwaukee in a way that keeps it affordable and accessible to all,” DCD Commissioner Lafayette Crump said in a statement. “We aim to build on the work we are doing and identify projects that move the city forward. This means focusing on our role as thoughtful stewards of public resources, and supporting investments that deliver smart, sustainable growth. Through strong collaboration, we are expanding housing choice so hard-working Milwaukeeans have the opportunity to live and thrive in our city.”

DCD is proposing to provide New Land with $3.8 million for its 82-unit, $23.7 million Via development at S. 5th and W. Mineral streets. A zoning variance was previously approved in 2022.

The city would also provide $2.9 million for the 65-unit, $17.9 million Forma development at the intersection of S. 5th and W. Florida streets. A zoning variance was approved in 2023.

“Via and Forma are ground-up, infill projects, which are inherently complex in today’s national cost and interest-rate environment,” said Gokhman. “Reaching this point reflects critical progress in our partnership with the City of Milwaukee, and these incentives will help us to deliver a housing type and price point that is significantly undersupplied in Milwaukee. We are proud to partner with a city that is putting real solutions in motion and is focused on making projects like these possible.”

Pérez, the area alderman, also praised the agreement.

“I am pleased to support projects that invest in workforce housing in our neighborhood. Our community remains strong and connected when workers and families across all income levels can afford to live here,” he said. “I want to thank the Department of City Development and New Land for their continued commitment in advancing creative solutions that make a real difference for Milwaukee residents.”

The proposals are subject to approval by the Redevelopment Authority of the City of Milwaukee and the Common Council.

New Land first entered Walker’s Point in 2016 with its completion of the 120-unit, three-building Trio complex. It found repeated success when it began to develop slightly smaller buildings on smaller lots. The first smaller building, the 48-unit Quartet, was completed in 2020 and fully leased within a couple of months. The second building, the 66-unit Element, was fully leased as soon as it opened in spring 2022.

In 2021, Gokhman told Urban Milwaukee that the developments provide affordable rents for new construction without a government subsidy. But rising development costs, cited by Gokhman and other developers, have made it difficult to repeat that model.

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