Leaders Celebrate Opening of Wisconsin’s Largest Private Affordable Housing Complex

(Left to right) Maria Watts, Ald. Russell Stamper, Shaina Madden, Mayor Cavalier Johnson, Ald. Marina Dimitrijevic and Ald. JoCasta Zamarripa. Photo taken Nov. 20, 2025 by Graham Kilmer.

Elected officials gathered Thursday for the grand opening of the largest privately-owned affordable housing development in Wisconsin history.

The $197 million project adds 576 units spread across eight buildings on a 10-acre site at 147 E. Becher St. The housing complex, built by Bear Development, is called The Corliss, an homage to the Filer & Stowell company that manufactured the Corliss engine there. The first building was finished in August. The last building will be delivered in mid-2026.

“It’s a space that once powered the city of Milwaukee’s industrial past, and it’ll now serve as home to nearly 600—576 new homes for Milwaukee,” said Mayor Cavalier Johnson.

Johnson joined Alderpersons Marina Dimitrijevic and JoCasta Zamarripa for a ceremony and ribbon cutting Thursday. Also attending were Bear Development COO Jonah Hetland, Citi Bank Managing Director Bryan Barker, U.S. Bank Affordable Housing Project Manager Shaina Madden and Maria Watts, senior business and community engagement officer with the Wisconsin Housing and Economic Development Authority (WHEDA).

The project was financed by layering public funding and loans on top of private loans and low-income housing tax credits from WHEDA. The credits were purchased by U.S. Bank, which invested $102 million into the project.

Dimitrijevic, who represents the area on the Common Council and advocated for public financing, called the massive housing development a “milestone” for Bay View and the Harbor District.

“Over the years, I’ve heard from teachers, service workers, artists and others that they love Bay View and the harbor area, and they want to stay, but like many other United States cities, we do face an affordable housing shortage,” Dimitrijevic said. “On the Common Council, we continue to make this a priority, and this grand opening is a representation of those words turned into action.”

The City of Milwaukee subsidized the project with $9.2 million in tax incremental financing, which effectively works as a property tax rebate, with increased property tax revenue generated by the development being returned to the developer over a period of no more than 15 years. The City’s Housing Trust Fund awarded the project an $850,000 grant. The Redevelopment Authority of the City of Milwaukee provided a $1 million loan from its Brownfield Cleanup Revolving Loan Fund.

All of the units are affordable, but a majority will be set aside for persons making 60% of the county area median income. Others are set aside at 40%, 50%, 70% and 80% the median income. There are also 144 units set aside for seniors. The low-income housing tax credits establish rental rates targeted at 30% of a household’s income.

“During the early exploratory stages with the neighborhood and the city officials, we realized it was very important to create housing for the seniors so they can age in place and remain within the neighborhood,” Hetland said.

According to Bear, Construction supported 700 jobs. The funding agreement with the city required 40% of work hours performed by unemployed or underemployed city residents and 25% of the project’s contract spending needed to go to certified small business enterprises.

Initially, Bear planned to redevelop the 19th-century industrial buildings into apartments. But as development costs rose during the pandemic, the firm pivoted to razing the site for new construction, Hetland said. The project is still incorporating materials from the site, though, including reclaimed Cream City bricks and lumber.

The complex also contains multiple fitness centers, community rooms, a public walking path, a dog park, outdoor courtyard with grills and EV charging stations. Apartments are currently available for lease.

The mayor praised now-retired city affordable housing specialist Maria Prioletta for her capstone work in bringing the project, and it’s complicated financing stack, to completion.

Grand Opening

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Construction Photos

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Renderings and Site Plan

October 2020 Tour Photos

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