Two Milwaukee affordable apartment developments would together receive $2.7 million in city financing help under a pair of new proposals.
The 140-unit Kin at F reshwater , in the Harbor District at 200 E. Greenfield Ave., and the 60-unit B ronzeville Creative Arts and Technology Hub , 618 W. North Ave., would receive funds through new tax incremental financing districts proposed by Mayor Cavalier Johnson’s administration.
The districts, which need Common Council approval, provide funds through the new development’s property tax revenue.
Without the financing districts, the increased property tax base from the developments would be immediately available to the city, school district and other local governments. But the developments would not occur without the financing districts, according to the developers and the Department of City Development.
Kin at Freshwater would include 1,300 square feet of street-level office space for nonprofit health care worker trainer Unite WI Inc. It is planned for a city-owned vacant lot at the Freshwater Plaza mixed-use development and is being developed by Rule Enterprises LLC and Emem Group LLC.