WHEDA allocates $554,974 in federal housing tax credits to St. Anthony Apartments in Milwaukee
Grand opening celebrates addition of 60 affordable housing units
MILWAUKEE, WI — The Wisconsin Housing and Economic Development Authority (WHEDA) has allocated $554,974 in affordable federal housing tax credits to help finance the St. Anthony Apartments near downtown Milwaukee. A grand opening ceremony was held today at the new development.
The adaptive re-use development has transformed a vacant five-story building that historically was St. Anthony’s Hospital, and more recently the Milwaukee County Correctional Center, into 60, one-bedroom and efficiency units of high-quality housing with onsite supportive services. The apartments, developed by Heartland Housing, are located at 1004 N. 4th Street in Milwaukee.
“Heartland Housing was perfect for the job, possessing expertise in developing and managing affordable and supportive housing,” said WHEDA Board Chairman Ivan Gamboa who spoke at today’s grand opening. “They have experience building other similar developments in Milwaukee, offering a stabilizing safety net for those who have struggled with homelessness.”
“Heartland has teamed up with Capuchin Community Services to provide a site that is sure to have a profound impact on this community,” added Gamboa. “The Capuchins will now have a significant opportunity, through their faith-based mission, to expand their outreach to the hungry and homeless of downtown Milwaukee with supportive housing that’s permanent.”
WHEDA awarded federal housing tax credits to the development in 2016. The tax credit program is administered by WHEDA for the entire state and is considered one of the most successful private-public partnerships in Wisconsin.
The city of Milwaukee, Milwaukee County, and WHEDA have formed a partnership to help end chronic homelessness in the county. St. Anthony Apartments will assist a variety of vulnerable households including chronically homeless persons, those prone to homelessness, persons with a behavioral health condition and justice involved persons.
For over 45 years, WHEDA, as an independent state authority, has provided low-cost financing for housing and small business development in Wisconsin. Since 1972, WHEDA has financed more than 73,000 affordable rental units, helped more than 129,600 families purchase a home and made more than 29,000 small business and agricultural loan guarantees. For more information on WHEDA programs, visit wheda.com or call 800-334-6873.