Downtown Milwaukee, Riverwest economical apartments win tax credits

A Riverwest development that combines affordable apartments with a food entrepreneurship center has received preliminary financing approval.

A substantial downtown very affordable apartment creating and a Riverwest enhancement that combines housing with a middle for foodstuff business owners have both of those been given preliminary funding approvals.

The 140-unit Michigan Street Commons would be developed on around 7 acres bordered predominantly by North Lovell, North 10th, West Michigan and West Clybourn streets.

Meanwhile, the 91-device Riverwest apartments and food stuff accelerator is planned for the 1100 block of East North Avenue, just west of College of Wisconsin-Milwaukee’s RiverView Residence Corridor.

They are amid 10 Milwaukee County condominium developments that are receiving point out and federal affordable housing tax credits from the Wisconsin Housing and Economic Growth Authority.

The tax credits are marketed to elevate dollars, with developers in search of financial institution loans and other funding sources to entire their funding packages.