A planned progression of affordable apartments for the west side of Wauwatosa is a federal grant to help fund the project.
The Walnut Glen Apartments will be developed through Madison-based Horizon Development Group Inc., in 1535 and 1565 Rivers Bend.
This assignment is south of West Walnut Road, between 113th and North 116th Streets.
Walnut Glen would come with a four-story, 87-unit construction for the elderly, and a 14-unit construction in the city for young families with children, according to a report by the Wauwatosa Plan Commission.
The project’s investment includes federal housing tax credits.
Developments that benefit from these tax credits will have to hire at least 85% of housing to others who do not earn more than 60% of the local median income.
Horizon Development is also a $700,000 federal grant to help Walnut Glen.
According to a new report to the Milwaukee County Council, you will need to approve the grant.
Horizon Development and its partner, Midwest Affordable Housing Corp., hope to begin structuring the 14-unit city apartment building this fall, with the final touch until July.
Construction of the 87-unit apartment would begin in the spring of 2021 and this construction would open in the spring of 2022.
Tom Daykin can be emailed to [email protected] and on Instagram, Twitter and Facebook.