Community Development Alliance Selects Developer Partners for King Park Building Project
Habitat for Humanity, Emem Group will construct 120 homes by 2026
MILWAUKEE (November 4, 2022) — The Community Development Alliance (CDA) has selected Habitat for Humanity and the Emem Group to build 120 quality, affordable single-family homes and duplexes in Milwaukee’s King Park neighborhood, CDA Chief Alliance Executive Teig Whaley-Smith announced Friday.
Habitat for Humanity and the Emem Group were chosen after an RFP process that was reviewed by a panel of housing, neighborhood and government representatives. Habitat will build at least 80 homes, which will be available for immediate homeownership between 2024-26, and the Emem Group will build 40 homes available for homeownership after a federally required 15-year rental period using 4% housing tax credits. The homes are primarily funded by American Rescue Plan Act (ARPA) funds, however, the use of 4% housing tax credits is being piloted as a long-term funding source after ARPA funds have been depleted.
“We all know that housing insecurity remains a major issue among people in our community. By collaborating with the Community Development Alliance, we have the opportunity to increase access to quality, affordable housing for families and residents in our neighborhoods,” said Mayor Cavalier Johnson. “The city of Milwaukee has partnered with Habitat for Humanity and the Emem Group in the past, and I’m looking forward to growing those partnerships, building stronger neighborhoods, advancing racial equity and promoting homeownership for more Milwaukeeans.”
“It is extremely gratifying to be able to announce the advancement of this project, which will support the development of single-family homes and duplexes for our community and once again demonstrate the power of collective impact,” said Ald. Russell Stamper II of the 15th District, who has partnered with the CDA on the project. “I want to thank the CDA for undertaking this work with the city, knowing that our ultimate goal is to close the racial equity gap and produce Black and Brown homeownership.”
Based on the CDA’s analysis of American Community Survey (ACS) five-year data from the United States Census Bureau, there are 17,000 Black and Latino families in Milwaukee who are aspiring to buy a home that is $125,000 or less. Each year, however, there are only 1,500 available homes and 40% are purchased by investors.
Said Emem Group President and CEO Michael Emem: “We at the Emem Group are elated to be chosen to develop new homes in the King Park Neighborhood. This project prioritizes affordable homeownership for some of the most economically vulnerable populations in the region. In the midst of an affordability crisis, the significance of this project is more relevant now than ever.”
The estimated cost of producing each of these planned homes will be approximately $190,000, and the units must be sold at $110,000 or less. All homes will be approximately 1,000 square feet and include three bedrooms and one bathroom. The CDA says the first 42 homes for immediate homeownership will be completed by Dec. 31, 2024. The remaining homes will be constructed by Dec. 31, 2026.
“Housing stability is critical to dozens of quality-of-life measures, including employment, early childhood development, stress levels, education and health,” Whaley-Smith said. “The CDA’s vision is that all Milwaukee neighborhoods are safe places to live, work and play and provide opportunities for people of all races and income levels to lead healthy, productive lives.”
NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. It has not been verified for its accuracy or completeness.
