Nine Milwaukee projects were awarded $4.9 million in Low-Income Housing Tax Credits Monday from the Wisconsin Housing and Economic Development Authority.
A total of $14 million in low-income housing tax credits was awarded to 28 projects across the state that will create 1,307 units of affordable rental housing.
The following Milwaukee projects will receive tax credits:
- 15th and North Apartments, VeriGreen Development, LLC, $723,362
- 5th Street School Apartments, Gorman & Co., Inc., $420,732
- 704 Place Apartments, Rule Enterprises, LLC, $561,100
- Century Building, Keystone Development, LLC, $477,169
- CityPlace, Institutional Housing, Inc., $405,671
- St. Anthony’s Apartments, Heartland Housing, Inc. $530,000
- Victory Manor, LLC, Housing Authority of the City of Milwaukee, $631,836
- Washington Park Townhomes, Wisconsin Preservation Fund, $515,502
WHEDA received 39 applications this year representing $19.4 million in requests.
The tax credits will help finance affordable housing units in communities including Bayfield, Colby, Fond du Lac, Grand Chute, Madison, Merrill, Milwaukee, Nekoosa, New London, Oshkosh, Prairie du Chien, Sheboygan, Sparta, Superior, and Wausau.
WHEDA is an independent state authority that works with lenders to provide low-cost financing for housing and small business development in Wisconsin.
The agency has been the sole administrator for the Low-Income Housing Tax Credit program in Wisconsin since the federal program began in 1986 to encourage private investment in the development and rehabilitation of rental housing for low- to moderate-income families, seniors and persons with special needs.
