Milwaukee Department of City Development Proposes Two New TIDs to Expand Workforce Housing Opportunities
Proposed TIDs to support New Land Enterprises developments in Walker’s Point
MILWAUKEE – Milwaukee Mayor Cavalier Johnson’s Department of City Development (DCD) is proposing the creation of two new tax incremental districts (TIDs) to support two workforce housing developments proposed by New Land Enterprises in the city’s Walker’s Point neighborhood.
TID 130 (Via) and TID 131 (Forma) will support projects that align with DCD’s tax incremental financing (TIF) for housing policy and reflect the city’s commitment to expanding housing choice throughout Milwaukee.
“Workforce housing compliments our city’s housing options by ensuring the people who keep our city running, such as teachers and healthcare workers, can have a place to call home,” Mayor Johnson said. “I declared this the ‘Year of Housing,’ and the creation of these two tax incremental districts is a commitment to action. These tools allow us to invest in developments to create a more inclusive housing landscape to meet residents at every stage of their lives.”
DCD’s TIF for housing policy prioritizes projects that create affordable and workforce housing options and developments that repurpose underutilized central business district office buildings into residential properties. The guidelines advance City goals of creating new housing options that are accessible to a wide range of Milwaukee residents.
“Our goal is to grow Milwaukee in a way that keeps it affordable and accessible to all,” DCD Commissioner Lafayette Crump said. “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.”
The New Land developments, Via and Forma, received initial design approvals in 2023 and are proposed as workforce housing, targeting those who earn less than 80%, 90%, and 100% of the area’s median income. Both projects would create 150 workforce housing apartment units in the Walker’s Point neighborhood at two vacant and underutilized sites.
“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,” Milwaukee Common Council President and District 12 Alderman José G. Pérez 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.”
Located at the corner of 5th and Mineral, the VIA project will include 4,000 square feet of commercial space and create 82 residential rental units targeted for workforce housing. Total project costs for the development are estimated at approximately $23.7 million. DCD is proposing a TID investment of $3.8 million to support the project.
Forma, located at 4th and Florida, will create 65 workforce housing residential units. Total project costs for the development are estimated at approximately $17.9 million. DCD is proposing a TID investment of $2.9 million to support the project.
Both developments include a mix of studio, one- and two-bedroom residential units targeted to households who earn less than 80%, 90%, and 100% area median income.
“Via and Forma are ground-up, infill projects, which are inherently complex in today’s national cost and interest-rate environment,” New Land Managing Director Tim Gokhman said. “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.”
Via and Forma support the City’s Near South Side Area Plan and Walker’s Point Strategic Action Plan by providing varied building types that include multi-unit mid-rises to accommodate various types of households and a range of income levels.
New Land Enterprises is a development firm that specializes in mixed-use residential and commercial real estate. The firm has developed 30 projects valued at $740 million, including Element, KinetiK, Nova, Quartet, Rhythm, Riverside Lofts, as well as the world’s tallest mass timber building, Ascent MKE.
The Redevelopment Authority of the City of Milwaukee will review TID 130 and TID 131 on Thursday, February 19. Project plans will be made available online prior to the meeting.
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.
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