TID 114 created to support mixed-use development in 6th District

The Common Council today (Tuesday, December 13) adopted file #221126 – a resolution approving a project plan and development agreement, authorizing expenditures, and creating Tax Incremental District (TID) No. 114 (Five Points), in the 6th Aldermanic District. The file was sponsored by Alderwoman Milele A. Coggs.

TID 114 consists of five parcels located along N. Martin Luther King Jr. Dr. between W. Concordia Ave. and W. Keefe Ave. The TID is being created to assist in the development of a project containing a new mixed-use building with 55 apartments and 7,500 square feet of commercial space. Forty-six of the apartment units will be affordable to families with incomes below 60% of the area median income.

“I cannot wait for this project to move forward and see the impact it will make on the community,” said Alderwoman Coggs. “This project checks every box we can ask for including redeveloping long vacant property, supporting investment in the neighborhood, and creating new employment and housing opportunities for residents. I want to thank the city staff who spent time working on the creation of this TID, and the residents who provided feedback on project amenities they wanted to see become a reality.”

The project is being developed by Martin Luther King Economic Development Corporation and KG Development. It is estimated the project will be completed in August 2024.

NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. While it is believed to be reliable, Urban Milwaukee does not guarantee its accuracy or completeness.