New Affordable Housing Development Planned for Milwaukee’s Harbor District
A new development project is set to transform Milwaukee’s Harbor District with the construction of a 140-unit apartment community at 100 E. National Ave.
The $54.6 million project, which received federal affordable housing tax credits in 2023, will primarily offer apartments at below-market rates to support individuals earning up to 80% of the local median income. A proposed tax incremental financing district aims to provide $2.17 million to help cover development costs. If approved, construction is expected to commence around August 2023, with a projected completion date in May 2026. This initiative is part of a broader effort to increase affordable housing options in the area.
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Milwaukee Journal Sentinel: https://www.jsonline.com/story/money/real-estate/commercial/2024/05/03/milwaukee-affordable-apartment-development-seeks-city-funds/73538954007/
Milwaukee Business Journal: https://www.bizjournals.com/milwaukee/news/2024/05/16/bear-affordable-apartments-harbor-district.html
Urban Milwaukee: https://urbanmilwaukee.com/2024/05/17/city-funds-will-boost-walkers-point-development/
Milwaukee Business News: https://biztimes.com/bear-development-seeks-city-funds-for-walkers-point-affordable-housing/
Wisconsin Development News: https://wisconsindevelopment.com/exdisplaysolo.asp?idstr=8434