WHEDA provides financing for King Commons III

WHEDA will provide $4.7 million in financing for the King Commons III development.

The Wisconsin Housing and Economic Development Authority (WHEDA) announced it will provide $4.7 million in financing for the King Commons III development in the 2700 block of North Dr. Martin Luther King Jr. Drive in Milwaukee. WHEDA is also providing $5.8 million in low-income housing tax credits for the project, bringing its total investment in the project to $10.5 million.

King Commons III will be developed by Martin Luther King Economic Development Corp. It will be a three-story, mixed-use building with 24 low-income apartments. The apartments will have two to three bedrooms and will be rented for $595n to $857 a month. The building will also have 2,000 square feet of retail space.

King Commons I, completed in 2005, is a mixed-use building at 2774 N. Dr. Martin Luther King Jr. Dr. with 18 apartments and 6,500 square feet of commercial space. King Commons II includes a mixed-use building with nine apartments at 2767 N. Dr. Martin Luther King Jr. Dr. and 15 scattered home sites along North 4th Street, North 2nd Street and West Hadley Street.

Sign up for BizTimes Daily Alerts

Stay up-to-date on the people, companies and issues that impact business in Milwaukee and Southeast Wisconsin

No posts to display