Groundbreaking Announced for Affordable Housing Community in Milwaukee

INDIANAPOLIS (September 4, 2025) – The Annex Group®, a leading impact housing developer that creates affordable, workforce and purpose-built student housing communities, today announces groundbreaking plans for Union at Rose Park, a new affordable housing community coming to Milwaukee, Wisconsin. Located at 3040 North Dr. Martin Luther King Jr. Dr., 53212, Union at Rose Park will be on over an acre of property in Milwaukee’s north side neighborhood of Harambee and offer 75 one, two and three-bedroom units to households earning a range of income levels starting at 30 percent of the area median income (AMI) to market rate. Nine units will be targeted to veterans. A groundbreaking ceremony will mark the official beginning of construction on the $25.8 million property. Details include:

• Location: Union at Rose Park
  3040 North Dr. Martin Luther King Jr. Dr., Milwaukee, WI 53212
• When: Wednesday, September 24 at 11:00 a.m. CST
• What: Join The Annex Group, Wisconsin Housing and Economic Development Authority (WHEDA) Executive Director Elmer Moore, Jr., the community and other partners in a ceremonial groundbreaking for Union at Rose Park

“The Annex Group is looking forward to being a part of this growing area that is experiencing an influx of development including a brand new library, which is something we think residents will enjoy,” said David Wesner, Vice President of Development for The Annex Group. “We respect that this part of town has a lot of history. Union at Rose Park was specifically designed to meet local resident needs and enhance the community’s look and feel.”

Union at Rose Park will feature rich amenities, including a community room, fitness center and business center. It will have rooftop solar panels and is designed to meet Enterprise Green Community Standards. The community will be adjacent to a park that has basketball courts, a baseball field, playground and ample green space. Shopping, groceries, the new library and public transportation are also a short distance from the complex.

“The Annex Group’s vision is for a strategically located, sustainable and affordable community with well-designed amenities,” said Charles Swanson, Practice Leader, Director, Multifamily for Ware Malcomb. “By meeting Enterprise Green Communities’ standards and incorporating rooftop solar panels, the development is in line with Ware Malcomb’s firm commitment to high-quality, futureproof design.”

“We were fortunate to have many partners collaborate to make this closing happen,” said Rachel Kriech, Director of Development. “As The Annex Group enters Milwaukee for the first time, we are proud to work side by side with industry professionals and community advocates who understand the need for truly affordable housing in areas that are experiencing growth like Milwaukee is.”

The project partners include Ware Malcomb, raSmith, Integrity Structural Corp., Latimer Sommers & Associates, Terracon, Heartland Energy Consultants, Baker Tilly, ACC Management Group, and Impact Housing Indiana, an organization dedicated to supporting residents of affordable housing communities within the portfolio of The Annex Group. Impact Housing Indiana will have a dedicated on-site space within Union at Rose Park which will enable services to more quickly and efficiently be provided to residents.

“We’re proud to partner with The Annex Group and others to bring Union at Rose Park to life,” said Andy Crain, Senior Vice President, Advantage Capital. “This development reflects the impact we aim for—expanding affordable housing, supporting neighborhoods, and helping families, veterans and individuals across Milwaukee thrive. By investing in this community, we’re not just building housing—we’re strengthening the community for years to come.”

The Rose Park project’s financing was a collaborative effort, drawing on the support of several key partners. Advantage Capital played a significant role by providing over $9 million in federal equity and just under $3 million in state credit equity. The Wisconsin Housing and Economic Development Authority (WHEDA), contributed by allocating four percent tax credits, approximately $13.5 million in tax-exempt bonds, and both a $1 million Vacancy-to-Vitality loan and a $125,000 Infrastructure Access Funding loan. Cedar Rapids Bank & Trust provided substantial financial backing, acting as the construction lender with over $18 million and later as the permanent financing lender with over $8 million. Additionally, the Redevelopment Authority of the City of Milwaukee (RACM) offered $750,000 in Brownfield funding aid. Finally, the City of Milwaukee’s vital support was instrumental in bringing the project to fruition.

This will be The Annex Group’s first community in Wisconsin.

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.