Two affordable apartment developments are coming to Milwaukee's emerging Harbor District

A pair of affordable apartment developments planned for Milwaukee's emerging Harbor District are among 23 such projects throughout Wisconsin that are receiving a key form of public financing to help them proceed.

The Harbor District developments − a 140-unit building at 200 E. Greenfield Ave. and another development with 96 apartments at 100 E. National Ave. − are receiving state and federal affordable housing tax credits.

Developers that receive tax credits must generally provide at least 85% of a building's apartments at below-market rents to people earning no higher than 60% of the local median income for 30 years. The tax credits are sold to raise cash, with the developers then obtaining bank loans and other cash sources to complete their financing packages.

The tax credits are granted through annual competitions, with the 2023 awards announced Wednesday by Gov. Tony Evers and Wisconsin Housing and Economic Development Authority Chief Executive Officer and Executive Director Elmer Moore, Jr.

The six-story Greenfield Avenue building will include 27 apartments with market rate rents, according to WHEDA.

Developer Rule Enterprises LLC plans to construct it on a parcel located next to the Freshwater Plaza mixed-use development, which includes apartments, a Cermark Fresh Market supermarket and other commercial buildings.

Kenosha-based Bear Development LLC plans to construct the National Avenue building on a vacant lot just east of South First Street. It doesn't include any market rate units.

Bear Development has another Harbor District affordable housing project, Filer & Stowell Lofts, under development at 123 and 147 E. Becher St.

That proposal calls for demolishing industrial buildings at that 10-acre parcel and constructing 576 apartments within six buildings.

The Harbor District is bordered roughly by South First Street, the waterfront, the Milwaukee River and Bay Street/Becher Street. It's been changing in recent years from a heavily industrial area to a mix of manufacturing, offices, housing and other new uses, including new public river walks.

The new tax credits awards totaled $32 million to help finance 23 developments which will provide over 1,500 new affordable apartments statewide. This year's tax credits requests totaled $59 million − "underscoring the need for funding resources to complete these much-needed housing developments," according to the WHEDA announcement.

“Housing tax credits have a proven track record of expanding affordable housing in our state – supporting our workforce, our families, and the well-being of our communities," Evers said, in a statement.

The other Milwaukee-area developments receiving tax credits are:

⋅ A 60-unit project that's part of the planned Bronzeville Creative Arts and Technology Hub, north of West North Avenue and west of North Sixth Street.

⋅ The 81-unit expansion of Vets Place Central, 3330 W. Wells St., a housing community for homeless veterans on Milwaukee's near west side.

∙ The 114-unit Highland Gardens renovations project, a Milwaukee Housing Authority development for seniors and people with disabilities, 1818 W. Juneau Ave.

∙ The 56-unit Woodale Crossing, to be built at 4114 W. Woodale Ave., Brown Deer. 

∙ The 45-unit Layton Preserve, at West Layton Avenue and North 99th Street, Greenfield.

Tom Daykin can be emailed at tdaykin@jrn.com and followed on Instagram, Twitter and Facebook.