Five proposed Milwaukee affordable housing developments are vying for competitively awarded low-income housing tax credits to enable their construction.The proposals, part of a group of 39 statewide, include a new building at Midtown Center, a redevelopment of a shuttered nursing home, new senior apartments in Bay View, a redevelopment of the building used for the Milwaukee County City Campus offices (and formerly Doctor’s Hospital) and the development of new housing around St. Matthew C.M.E. Church.
The Wisconsin Housing and Economic Development Authority will announce what projects are selected in May.
The credits are the most common tool used in Wisconsin to create federally-defined affordable housing. Receipt of the credits requires developers to set aside a pre-determined number of units at a discounted rate for households making less than a specified income (often 60% of the area median). Rental prices are set via a formula and targeted to match 30% of a household’s income...
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- - Volume: 25 - WEEK: 6 Date: 2/6/2025 12:03:20 PM -