A $25 million near west side development calls for 79 apartments and commercial space
A $25 million development proposed for Milwaukee's near west side would feature 79 apartments and 7,400 square feet of offices and other commercial space.
The development would be known as Brewers Lofts, with a location just south of Miller Valley.
The plans, from Team Management LLC and Wisconsin Redevelopment LLC, call for redeveloping a four-story building with 75 studio units at 3808 W. Wisconsin Ave. into 25 apartments, ranging from one to three bedrooms.
That building, known as Valley Square Apartments, was constructed in 1958.
Also, a new four-story building would be constructed in front of that existing building, which is to the rear of the development site, according to the proposal filed with the Plan Commission.
The new building would have 54 apartments, ranging from one to three bedrooms, and 7,400 square feet of street-level commercial space. Some of that space would provide offices for Team Management.
The apartments would be for people with a mix of incomes, including those who qualify for affordable units.
Such developments are typically financed in part with federal affordable housing tax credits.
Developers that obtain the affordable housing tax credits, which are provided through an annual competition, must generally rent 85% of their units at below-market rents to people earning no more than 60% of the area median income.
The developers plans to seek those tax credits in the 2023 competition, said Todd Hutchison, a principal partner at Wisconsin Redevelopment.
Wisconsin Redevelopment's projects include plans to create 48 apartments at the former Carleton Elementary School, 4116 W. Silver Spring Drive. That development on Tuesday received Common Council approval.
The Wisconsin Avenue proposal needs council zoning approval. The Plan Commission has a public hearing on that proposal scheduled for its Dec. 5 meeting.
The development would include 95 parking stalls, green space and such amenities as an on-site laundry, exercise room, community room and bike racks.
It also would take advantage of being located on Milwaukee County Transit System's East-West Bus Rapid Transit system, which is to begin operating in 2023.
The development site is just east of the Wisconsin Avenue Bridge over the Menomonee River.
"Our development will serve a diverse population and bring an attractive entry point for Milwaukee’s Near West Side Neighborhood," according to the proposal.
Tom Daykin can be emailed at tdaykin@jrn.com and followed on Instagram, Twitter and Facebook.
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This article originally appeared on Milwaukee Journal Sentinel: $25 million near west side development proposal features 79 apartments
