An affordable housing project that would put the final piece of the Freshwater Plaza development in Milwaukee’s Harbor District into place has received a $500,000 loan. Rule Enterprises is planning a six-story, 140-unit apartment building for a vacant two-acre site at 200 E. Greenfield Ave. That new apartment building would be located just south of
An affordable housing project that would put the final piece of the Freshwater Plaza development in Milwaukee's Harbor District into place has received a $500,000 loan.
Rule Enterprises is planning a six-story, 140-unit apartment building for a vacant two-acre site at 200 E. Greenfield Ave.
That new apartment building would be located just south of Freshwater Plaza's Cermak Fresh Market. Freshwater Plaza also includes a Sherwin-Williams paint store on a commercial outlot, a mixed-use building with several retail tenants and 76 apartment units, and a Summit Credit Union branch that is currently under construction on a second commercial outlot.
Rule is planning for 113 of the units to be below market rate, with 70 units reserved for households making no more than 50% of the area median income.
Milwaukee non-profit LISC (Local Initiatives Support Corp.) recently announced that it is supporting the development with a $500,000 pre-development loan. Earlier this year, the project was also awarded low-income housing tax credits from the Wisconsin Housing and Economic Development Authority, state records show.
The building will be managed by Lutheran Social Services of Wisconsin & Upper Michigan, which will provide health and social services via community health workers, according to an announcement from LISC.
