Two Milwaukee-area workforce housing projects received state funding as part of new funding opportunities signed into law last year.
The awards are from Vacancy-to-Vitality, Restore Main Street and Infrastructure Access loan programs, which were developed by the state last year to provide assistance to developers building affordable and workforce housing.
The Wisconsin Housing and Economic Development Authority (WHEDA) and Gov. Tony Evers announced the second round of funding recipients Thursday.
The projects include:
- The Hampton, a 17-unit workforce housing project at 4800 N. Santa Monica Blvd. in Whitefish Bay. The $7.1 million project, led by Spoerl Commercial, LLC, received a $1 million Vacancy-to-Vitality loan and just under $470,000 for eligible infrastructure installation. The project also received $3.1 million from Milwaukee County.
- A Milwaukee project called “State Street Redevelopment” received a $120,000 loan from the Restore Main Street program. That program aims to support projects rehabilitating housing on the second or third floors of an existing building with commercial space on the ground level. An exact address was not provided for the $1 million project, which includes eight workforce housing units.
Four other projects throughout the state also received funding in this round. Three projects, including one in Brookfield, received funding in January, when the first round of funds were announced.
“These funds are creating homes in both rural and urban areas for workers, their children, and our aging population who need a safe, stable place to live and thrive,” said WHEDA CEO and executive director Elmer Moore. “Developers, government agencies, and property owners, especially those in rural areas of the state, are urged to apply during the next funding cycle in October 2024. Interest has been strong, and we are excited to receive applications for projects that will generate access to more safe, stable housing in Wisconsin.”
WHEDA is the administrator of the $100 million Vacancy-to-Vitality, $100 million Restore Main Street, and $275 million Infrastructure Access loan programs, all of which are available for application semi-annually.
