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.
Greater Milwaukee Committee President Julia Taylor plans to retire by the end of this year ending a 19-year tenure.
“I have greatly valued my time leading the GMC and being a part of the broader community here in the greater Milwaukee area and throughout the state of Wisconsin,” Taylor said in a Thursday statement.
“Our community has made significant advances on many fronts. While there are challenges that remain, there are also many initiatives and organizations in addition to a new generation of smart and dedicated leaders in place to keep southeast Wisconsin moving forward, Taylor said.
Taylor was appointed GMC president in 2002. She was the first woman to lead the civic group.