Alderwoman against apartments near Northridge
A plan to develop a large affordable apartment community east of Milwaukee’s former Northridge Mall is facing opposition from that neighborhood’s alderwoman.
Bonham Pointe Apartments, with over 200 units, is being proposed for a 13-acre site at 9251 N. 70th St., near Northridge Lakes Apartments.
Indianapolis-based Ascent Development Corp. would use federal affordable housing tax credits to help finance Bonham Pointe.
Those tax credits, which are provided through an annual competition, are typically sold by developers to raise equity financing.
The developments are then generally required to provide at least 85% of their units at below-market rents to people earning no higher than 60% of the local median income.
For a one-person household, that would be annual income of up to $35,640, and up to $50,640 for a fourperson household.
Ascent Development had a contract for the site but for now has backed away from its purchase plans until talking further with city officials and neighborhood residents, Mike Rodriguez, company principal, said at Monday’s meeting of the Granville Advisory Committee. The company has encountered issues involving a wetland on the site as well as zoning that limits apartments to one building, Rodriguez said.
He said Ascent would rather develop smaller-scale multiple buildings to create a better environment for families.
Opponents include Ald. Chantia Lewis, whose district includes the site, and George Hinton, committee chair and chief executive officer of the Social Development Commission, which operates anti-poverty programs in Milwaukee County.
“Affordable housing in this area is going to be very problematic,” Lewis said.
“It does nothing for the tax base,” Hinton said. “It does nothing for the value of the homes.”