The financing would be provided through new property tax revenue generated by the Lakeshore Commons project.
It would be developed on 66 acres next to Lake Vista Park, north of Bender Park and east of South Fifth Avenue, that was part of Oak Creek s largely industrialized lakefront for decades.
Milwaukee development firm F Street Group LLC plans to build Lakeshore Commons in phases over several years. The housing units would include both rental units as well as those for sale.
The Oak Creek Common Council on Tuesday night voted 5-0 for a development agreement that would fund up to $14.6 million for the project s first phase.