A pair of local developers are moving forward with plans to develop a mixed-use apartment building on North Avenue in Milwaukee's Riverwest neighborhood.
A large downtown affordable apartment building and a Riverwest development that combines housing with a center for food entrepreneurs have both received preliminary financing approvals.
The 140-unit Michigan Street Commons would be built on around 7 acres bordered mainly by North Lovell, North 10th, West Michigan and West Clybourn streets.
Meanwhile, the 91-unit Riverwest apartments and food accelerator is planned for the 1100 block of East North Avenue, just west of University of Wisconsin-Milwaukee s RiverView Residence Hall.
They are among 10 Milwaukee County apartment developments that are receiving state and federal affordable housing tax credits from the Wisconsin Housing and Economic Development Authority.
Plus: First tenants announced for North Avenue Market By Jeramey Jannene - Jan 10th, 2021 06:16 pm //end headline wrapper ?>Filer & Stowell, 147 E. Becher St., conceptual rendering. Rendering by Engberg Anderson Architects.
Developers intend to create 959 new affordable apartments across Milwaukee, if allocated housing tax credits.
The Milwaukee projects are just 13 of the 54 applications submitted to the Wisconsin Housing Economic Development Authority (WHEDA) as part of its annual competitive allocation of low-income housing tax credits. Applications, like in past years, exceed the amount of available federal credits.
“The demand for these highly competitive tax credits indicates a continuing, acute shortage of affordable housing throughout Wisconsin,” said WHEDA CEO