A year after first seeking permission to rezone 1.8 acres of vacant land in the 1100 block of East North Avenue in Milwaukee's Riverwest neighborhood for a 91-unit apartment building, Fox Point-based General Capital Group
and Milwaukee-based KG Development Group
are about to move forward with construction.
The developers recently submitted construction documents to the city for the $21.6 million affordable housing complex, which is also slated to include 2,500 square feet of commercial space and a food accelerator.
The development site is located on the north side of North Avenue, west of the Milwaukee River and the University of Wisconsin-Milwaukee’s RiverView Residence Hall.
The development site includes 1.3 acres owned by the city and half an acre across two parcels owned by local investors group Direct Readco LLC, according to city assessor records.
With permits now being processed, construction is slated to start in late summer, Linda Gorens-Levey, a partner with General Capital Group confirmed Tuesday.
Construction is expected to take about 14 months.
“We are really excited to start construction on this much needed affordable workforce housing project in the city of Milwaukee,” Gorens-Levey said.