Funding Approved For 709 New Affordable Apartments in Milwaukee
Eight projects in town win state tax credits, from Downtown to the central city.
2100 W. North Ave., the Milwaukee Mall. Photo by Jeramey Jannene.
Eight proposed affordable housing developments in Milwaukee will benefit from newly announced funding awards from the Wisconsin Housing and Economic Development Authority (WHEDA).
Wednesday morning, the state agency announced it was providing funding for 35 projects spanning 15 counties through its annual competitive award process for low-income housing tax credits.
The eight Milwaukee projects include a total of 709 apartments and span everything from an office-to-housing conversion for a downtown tower to construction of new single-family homes in the central city.
The credits are the most common tool used in Wisconsin to create federally-defined affordable housing. Receipt of the credits requires developers to set aside a predetermined number of units at a discounted rate for households making less than a specified income. Rental prices are set via a formula and targeted to match 30% of a household’s income.
A tax credit allocation serves as the key financing component for any affordable housing development, but a groundbreaking is typically about two years away as development teams regularly sell the credits to institutional investors to raise equity, secure additional financing, and finalize project designs.
In all, WHEDA announced funding for 2,128 new apartments.
“Ensuring all our neighbors have access to reliable, affordable housing is essential for the health of our families, communities and our economy,” said Gov. Tony Evers in a statement. “These housing units are going to help communities across our state, and I’m proud of our continued efforts with WHEDA to address housing challenges and award these tax credits so developers can build more rental units for our kids and families, seniors and workforce.”
Projects are scored on a point system according to the state agency’s “qualified allocation plan,” which incentivizes setting aside units for the lowest-income individuals, proximity to jobs, and availability of supportive services.
Twelve Milwaukee projects, totaling more than 1,100 units, were initially submitted in January in the latest annual credit award program. At least two, Metcalfe Lofts and Cudahy Farms, have elected to pursue WHEDA’s non-competitive 4% credit grant program.
One project made it to the final review before being labeled “ineligible/insufficient” by WHEDA. The KIN at Freshwater proposal for a vacant Harbor District site at 200 E. Greenfield Ave. was previously awarded credits, but developer Rule Enterprises returned them due to financing challenges and reapplied with a reconfigured project. The project was not reallocated credits in the latest round.
Because of capacity issues, several projects go through multiple rounds of funding. The 633 Wisconsin redevelopment, which secured credits this year, was previously waitlisted. The Compass Lofts proposal for N. Martin Luther King Jr. Drive was awarded credits in 2024, but a reconfigured project, with a higher percentage of affordable units, was awarded credits in the latest funding round.
Two different grant programs exist. One provides a 9% federal tax credit and the other provides a 4% federal and 4% state income tax credit. WHEDA administers both programs.
633 Wisconsin
- Developer: J. Jeffers & Co.
- Units: 232 (232 Affordable)
- Type: Adaptive reuse (Family)
- Location: 633 W. Wisconsin Ave.
- Program: 4% State & Federal
- Credit Award: $3,152,558 (Federal); $1,200,000 (State)
- More information
Amani Scattered Sites
- Developer: Emem Group
- Units: 40 (40 Affordable)
- Type: New construction (Family)
- Program: 9% Federal
- Credit Request: $1,200,000
- More information
Compass Lofts
- Developer: Martin Luther King Economic Development Corporation, EA Development
- Units: 67 (67 Affordable)
- Type: New construction (Family)
- Location: 3116 N. Martin Luther King Jr. Dr.
- Program: 9% Federal
- Credit Request: $1,300,000
- More information
District 740
- Developer: Community First, Northernstar Companies
- Units: 40 (40 Affordable)
- Type: New construction (Family)
- Program: 9% Federal
- Credit Request: $978,858
Essence Estates
- Developer: Maures Development Group,
- Units: 70 (70 Affordable)
- Type: Acquisition/rehabilitation (Family)
- Program: 9% Federal
- Credit Request: $1,259,604
Ho-Chunk Nation Howell Avenue
- Developer: Ho-Chunk Nation
- Units: 24 (24 Affordable)
- Type: New construction (Family)
- Location: 3509 S. Howell Ave.
- Program: 9% Federal
- Credit Request: $524,400
Midtown Commons – Phase II
- Developer: Lutheran Social Services of Wisconsin & Upper Michigan, Gorman & Company, One 5 Olive
- Units: 100 (100 Affordable)
- Type: New construction (Family)
- Location: 5825 W. Hope Ave.
- Program: 4% State & Federal
- Credit Request: $1,475,396 (Federal); $1,023,665 (State)
- More information
Sears Market Square
- Developer: Thirty Six Blocks, Haywood Group
- Units: 44 affordable (46 total)
- Type: New construction (Family)
- Location: 2100 W. North Ave.
- Program: 9% Federal
- Credit Request: $1,098,229
- Prior plan
Ineligible/Insufficient Proposals
KIN at Freshwater
- Developer: Rule Enterprises, Emem Group
- Units: 90 (90 Affordable)
- Type: New construction (Family)
- Location: 200 E. Greenfield Ave.
- Program: 4% State & Federal
- Credit Request: $1,308,522 (Federal); $965,287 (State)
- More information
Previously Withdrawn or Rejected Proposals
Cudahy Farms – Phase 1
- Developer: Royal Capital Group
- Units: 212 (212 Affordable)
- Type: New construction (Family)
- Location: 9050 N. Swan Rd.
- Program: 4% State & Federal
- Credit Request: $2,612,884 (Federal); $1,200,000 (State)
- More information
Kingdom Faith Lofts
- Developer: Scott Crawford Inc. (with Kingdom Faith Fellowship Church)
- Units: 100 (100 Affordable)
- Type: New construction (Elderly)
- Location: 11919 W. Bradley Rd.
- Program: 4% State & Federal
- Credit Request: $1,067,777 (Federal); $800,833 (State)
- More information
Metcalfe Lofts
- Developer: Metcalfe Park Community Bridges Inc., KG Development
- Units: 83 (83 Affordable)
- Type: Adaptive reuse (Elderly)
- Location: 3100 W. Meinecke Ave.
- Program: 4% State & Federal
- Credit Request: $989,864 (Federal); $754,098 (State)
- Prior plan for site
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