Cardinal Capital Management Inc. and Journey House celebrated on Friday the start of construction for a new $8.5 million affordable and supportive housing project in the Clarke Square Neighborhood on Milwaukee’s near south side.
The development will include constructing two three-story buildings at South 24th and West Mineral Streets, and at South 24th and Vieau Streets. The buildings will include a total of 40 apartments, 10 of which will be reserved for youth who have turned 18 and aged out of the foster care system.
The apartments will include 20 one-bedroom units, 14 two-bedroom units, and six three-bedroom units. The sites are located on the north and south ends of Clarke Square Park.
The project is being developed as a partnership of West Allis-based Cardinal Capital Management and nonprofit Journey House, which provides social services to residents of Milwaukee's near south side.
It is expected to be completed in early 2020.
[caption id="attachment_380453" align="alignright" width="402"] Rendering of one of the Clarke Square Apartments buildings.[/caption]
“This high quality, affordable housing is an investment in a continued focus on increasing the quality of life in Clarke Square Neighborhood and a welcome addition to our great neighborhood where children and families can play, learn, shop, worship, and live,” said Michele Bria, chief executive officer of Journey House. “We are grateful to all the partners who came together to make this happen.”
The apartment project is Cardinal Capital Management’s ninth supportive housing project in Milwaukee County.
“Each project is unique, created in partnership with city, county and state officials as well as community partners like Journey House, and local and national financial partners. We are blessed to work with such talented and mission-driven people. In addition to all these organizations, we thank Milwaukee Continuum of Care, a group that has done so much to keep focus on those most in need,” said Erich Schwenker, president of Cardinal Capital Management.
[caption id="attachment_380452" align="alignright" width="394"] Rendering of one of the Clarke Square Apartments buildings.[/caption]
When the project is completed, Journey House will provide supportive services, including financial literacy and career coaching, to the residents who are transitioning out of the foster system.
Jim Mathy, housing division administrator for Milwaukee County, said the project will play a role in the county's ongoing effort to end chronic homelessness.
"This development starts us on the road of prevention," he said. "If we only had developments like this for youth aging out of foster care 15 years ago, we wouldn't have been in the situation that we all ended up with."
The project received WHEDA Low Income Housing Tax Credits, Affordable Housing Funds from the Federal Home Loan Bank of Chicago and City of Milwaukee Home Funds.
Dimension IV Madison Design Group is the architect.