A 75-unit apartment development, aimed mainly at low- and moderate-income people, is being proposed for Milwaukee’s Harambee neighborhood.
The four-story Union at Rose Park would be developed at 3030 N. King Drive, said David Wesner, vice president of development at Indianapolis-based The Annex Management Group LLC. That site is near two other affordable apartment buildings under development, and another project that is planned.
The development site now has a single-story commercial building that would be replaced by the new construction.
Annex Management Group’s affiliated firm, Union Development Holdings LLC, is seeking federal and state affordable housing tax credits to help finance Union at Rose Park.
That’s according to information released by the Wisconsin Housing and Economic Development Authority.
Developers receiving those credits must provide most of the apartments at below-market rents to people generally earning no more than 60 percent of the area median income. Union at Rose Park would make 70 of its 75 units available at below-market rents.